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 1st
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.
