KARACHI: The government exceeded its borrowing target in the treasury bills (T-bills) auction held on Wednesday, raising Rs201.8 billion against Rs175bn, but kept cut-off yields largely unchanged. The auction saw bids surpassing Rs1tr, though the amount raised remained within the targeted range.

According to the State Bank of Pakistan (SBP), a total of Rs1,071bn in bids were submitted, with the government accepting Rs145.86bn in competitive bids and Rs56bn in non-competitive bids. This brought the total funds raised to Rs201.8bn. The SBP’s recent monetary policy statement revealed that it had provided Rs2.4tr to the........

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