State Bank of Pakistan (SBP) raised Rs 817 billion against a target of Rs 1,000 billion in a Market Treasury Bill (MTB) auction.
The debt raised is Mostly through the 3-month MTBs, making up 91.94% of the debt raised, as per the SBP official.
However, the yields in the 3 months have increased by 21 bps to 15.79% because of higher demand from the market for the shortest tenor. The yields for 6 months do not show any change; whereas the yields of 12-month tenor MTBs have risen by 4 bps.
The market offered Rs 1.29 trillion out of which the government accepted bids costing Rs 817 billion culminating in a realized value of Rs 783 billion.
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Moreover, the total amount raised for 3-month T-bills in Market Treasury Bill auction was recorded as Rs 740.4 billion, Rs 38.7 billion for 6-month, and Rs 37.8 billion for 12-month T-bills.
Recently, the central bank signed a Memorandum of Understanding (MoU) with Zameen.com under which the latter will provide data on the prices and rental costs of residential and commercial properties in the country’s metropolitan areas.
As per the details, this data will then be used by SBP to analyze house prices, make related indices, and use the information in its publications, working papers, and reports. The rental indices and aggregate house prices will also be available on SBP’s data portal – Easydata for the last four years.
During the signing ceremony, Deputy Governor (Policy) Dr. Murtaza Syed, expressed his pleasure and said that the real-estate sector is under-researched in Pakistan because of a number of factors including scarcity of available data. He added that due to the absence of dependable information on price trends in the real sector, the understanding of households’ asset allocation decisions becomes challenging.
Zameen.com’s CEO said that it was an honor to have entered into a partnership with the SBP to provide important data to help it make informed decisions and draft effective policies.
