In the 2nd auction of 2014, the government has sold PIBs worth Rs. 247 billion. It is more than four times of the set target.
For this quarter Govt. has set target of Rs. 60bn. In the first auction for the 3rd quarter which was held on January 29, the government had raised more money than the target set for the Q1 (Jan-March, 2014). For the Q1 the target was Rs. 60 billion and amount raised was Rs199.6bn. Like the first auction, the second auction has left the same observations and the cut-off rates were kept unchanged. Whereas, the amount raised was much higher than the maturing amount which was just Rs. 26bn for this month.
