T-bill yields drop.

KARACHI -- The government on Wednesday raised Rs167 billion - 50 per cent less than the auction target - from treasury bills as investors were keen on parking their funds in longer tenors.

Investors offered close to Rs1 trillion with massive Rs508.8bn bids for 12-month papers, but the government accepted only Rs90.5bn bids at a cut-off yield of 7.75pc.

However, it accepted bids of...