SBP targets Rs7tr through T-bills, PIBs in Nov-Jan

The government plans to raise Rs7.25 trillion through Treasury bills and fixed-rate Pakistan Investment Bonds between November 2026 and January 2027, according to auction schedules published by the State Bank of Pakistan (SBP). The plan allocates Rs6 trillion to Treasury bills and Rs1.25 trillion to fixed-rate bonds, with no floating-rate PIB sales scheduled.

Six Treasury bill auctions are planned during the period, against Rs6.59 trillion in maturities; provincial governments account for Rs1.45 trillion of those maturities and are expected to invest Rs300 billion in the auctions. The Treasury bill targets are split among 1-month, 3-month, 6-month and 12-month tenors, while the bond programme comprises three auctions targeted at Rs350 billion, Rs450 billion and Rs450 billion.