Qudsia Bano

The government mobilised Rs792.65 billion through the latest auction of Pakistan Investment Bonds (PIBs – Fixed Rate), conducted by the State Bank of Pakistan (SBP) on November 5, 2025, with settlement scheduled for November 6. According to SBP data, total bids received amounted to Rs1,438.57 billion, of which bids worth Rs771.92 billion were accepted. Including accrued interest, the total realised amount stood at Rs488.77 billion.

For the 2-year tenor, bids worth Rs59.60 billion were accepted at a cut-off yield of 11.4792% and a weighted-average yield of 11.4473%, with the cut-off price set at Rs83.1943. In the 3-year tenor, the government accepted Rs137.15 billion at a cut-off yield of 11.4900% and a weighted-average yield of 11.4534%, while the cut-off price stood at Rs97.7244.

For 5-year PIBs, accepted bids amounted to Rs90.70 billion at a cut-off yield of 11.6309% and a weighted-average yield of 11.5788%, with a cut-off price of Rs97.7003. The 10-year bonds attracted bids worth Rs144.47 billion, accepted at a cut-off yield of 12.0005% and a weighted-average yield of 11.9316%. The cut-off price was Rs97.1367.

For the 15-year tenor, the government accepted Rs340.00 billion at a cut-off yield and weighted-average yield of 12.2500%, with a cut-off price of Rs18.4695. Including non-competitive bids of Rs13.23 billion and short-selling of Rs7.50 billion, the total acceptance reached Rs792.65 billion.

The auction covered multiple maturities—2-year, 3-year, 5-year, 10-year, and 15-year fixed-rate bonds—contributing to a total realised amount of Rs488.77 billion, inclusive of accrued interest.

Credit: INP-WealthPk