Rs169bn raised through PIBs.

KARACHI -- The governmAent on Thursday raised Rs168.8 billion through auction of Pakistan Investment Bonds (PIBs), exceeding its target of Rs125bn.

According to the SBP repAort, Rs81.45bn was raised for three-year bonds with a cut-off yield at 7.64pc. SimiAlarAly, Rs57.9bn was raised for 5-year instrumen at 8.05pc.

Another Rs27bn was borrAowed for 10 years and Rs2.5bn for 15-years at 8.69pc and 9.97pc, respectively. The long-term bonds got relatively hiAAgher returns while the three- and five-year ones reflected the prevailing low interest...