Govt raises Rs1.6tr as T-bill yields hold steady

KARACHI: The government raised Rs1.65 trillion through the auction of Treasury Bills (T-bills) and Pakistan Investment Bonds (PIBs) on Tuesday, maintaining stable yields despite last week’s 200 basis points (bps) interest rate cut.

This was the first auction held following the rate reduction announced in the Dec 16 Monetary Policy. Market analysts had anticipated a decline in T-bill yields after the interest rate cut, but their stability suggests the market had already absorbed the impact.