Karachi September 28 2024: Government of Pakistan targets to buyback Market Treasury Bills (MTB) worth PKR 500 billion in an auction on October 1, 2024, according to State Bank of Pakistan.
By repurchasing its own outstanding securities from the market before they mature, the government aims to reduce its liabilities and strengthens its fiscal position, states ministry of Finance.
Pakistan public debt soars to PKR 47.7 trillion as of July 2024, majority of it (PKR 36.9 trillion) is in domestic debt while remaining portion is of external debt, according to State Bank of Pakistan.
Bids are invited for the Government of Pakistan Market Treasury Bills (MTB) Buyback Auction for both competitive and non-competitive between 10:00 to 12:00 hours on October 1st, 2024.
Government wants to buy PKR 100 billon each MTBs issued on 13th June 2024 and 14th December 2023 and maturing on 12th December 2024.
Government also targets to buy PKR 150 billion worth each MTBs issued on 27th June 2024 and 28th Decemeber 2023 having maturity date of 26th December 2024.
State Bank of Pakistan can reject the bids without assigning any reason.
