Govt raises Rs660 billion through T-bills auction against Rs2.52 trillion bids

According to Profit by Pakistan Today, the government collected Rs660.06 billion in Wednesday's Market Treasury Bills (MTBs) auction, as disclosed in results from the State Bank of Pakistan (SBP). Competitive bids were valued at Rs2.52 trillion in realised terms, well above the sum accepted. The auction spanned one-month, three-month, six-month and 12-month paper, with settlement set for October 15, 2026.

Cut-off yields were 11.5003% for the one-month bill, 11.9999% for the three-month, 12.3989% for the six-month and 12.4999% for the 12-month. Weighted average yields ranged from 11.4307% to 12.4500% across the tenors. Bids amounting to Rs400.36 billion from competitive participants were accepted, while non-competitive bids added Rs259.70 billion.

The three-month tenor contributed the largest portion at Rs301.86 billion, followed by six-month bills at Rs227.84 billion, one-month at Rs112.98 billion and 12-month at Rs17.37 billion. Provincial governments accounted for Rs194.67 billion of realised value, all in the three-month tenor, within the non-competitive allocation. Total face value of accepted bills, including non-competitive, reached Rs685.53 billion.