L (N) Government plans to borrow Rs.37,945 million in next 3 months

PML (N) Government plans to borrow Rs. 37,945 million to finance budget deficit during the first quarter fiscal year 2013-14. This was announced by State Bank of Pakistan, in action calendar of Pakistan Investment Bonds (PIB) and Market Treasury Bills (MTB). According to action calendar, government plans to borrow Rs 32,556 million in PIB and Rs.5389 in MTB.

Action calendar clearly shows that PML (N) government willing to shift borrowing form short term loans (MTB) to long term loans(PIB).

Beside the new borrowing government also revolve Rs.1750000 million of old loans. In revolving loans PIB part is Rs. 117,444 million and Rs. 1,59,4611 million in MTB.

After lowering the policy rate governments will safe billion of rupees in term debt servicing.

   

Auction Target calendar for sale of Government of Pakistan Investment Bonds for 3 & 5 Years (Fresh issue of 18Jul2013), 10 Years (Re-opening of 19Jul2012 issue) and 20 Years (Re-opening of 18Aug2011 issue) for the period July to September, 2013 is attached below;

 

Tenders for Sale of Pakistan Investment Bonds (PIBs) for 3 & 5 Years (Fresh issue of 18Jul2013), 10 Years (Re-opening of 19Jul2012 issue) and 20 Years (Re-opening of 18Aug2011 issue) are invited by the State Bank of Pakistan, Karachi from the Primary Dealers on each respective auction date through Bloomberg Online Auction module up to 12.00 PM PST. The result will be announced on the same day.  Primary Dealers would be required to deposit the amount of accepted bids to the Chief Manager, State Bank of Pakistan, Banking Services Corporation (Bank), Karachi on respective auction settlement date.

Targets for all auctions are given below;

 

 Tenor-wise Coupon Rates for all auctions are given below;

 

Bids can be rejected without assigning any reason.

Auction Target calendar for sale of Government of Pakistan Market Treasury Bills 3-Months, 6-Months & 12-Months for the 1^st Quarter of FY14 (from July to September 2013) is mentioned below.     

 

Bids will be invited (separately) on each auction date by the Director, Domestic Markets & Monetary Management Department, State Bank of Pakistan, Karachi from Primary Dealers through Bloomberg Online Auction module as follows;

1.	Start of Bidding	1000 hours to the date of respective Auction
2.	End of Bidding	1200 hours on the date of the respective Auction
3.	Communication of result	On the date of Auction

Maturity dates of Government of Pakistan Market Treasury Bills sold in the auctions will be as follows:

           

Note:   Bids can be rejected without assigning any reason.