SBP targets to raise around Rs5.4tr: Auction Calendar Aug 26-Oct 26

Mettis Global reported that the government wants to borrow Rs5.40 trillion over August to October 2026, using Market Treasury Bills and Pakistan Investment Bonds. Auction timetables published by the State Bank of Pakistan put Rs4.10 trillion of that total on MTBs and Rs1.30 trillion on fixed-rate PIBs. No floating-rate PIB auctions are slated for the quarter.

Seven MTB auctions are planned, starting with Rs400 billion on August 5 and Rs500 billion on August 19. September brings three sessions on the 2nd, 16th and 30th, offering Rs800 billion, Rs400 billion and Rs600 billion respectively. October closes with auctions on the 14th (Rs600 billion) and the 28th (Rs800 billion), while fixed-rate PIB auctions raise Rs400 billion on August 4, Rs450 billion on September 18 and Rs450 billion on October 7.

The PIB schedule covers five tenors, from 2-year to 15-year bonds. The 3-year, 5-year and 10-year bonds carry coupons of 12.00%, 12.25% and 12.50%, whereas the 2-year and 15-year issues are zero-coupon. Issue dates are 19-May-26 for three tenors and 5-Aug-26 for the other two.