KARACHI: The government repurchased Rs585 billion of five-year floating-rate Pakistan Investment Bonds (PIBs) in a buyback auction on Thursday, in a move aimed at easing refinancing pressure on bonds maturing in 2028-29 and supporting liquidity in the interbank market.
The latest auction covered six floating-rate PIBs with semi-annual securities across different issue and maturity dates, according to the State Bank of Pakistan. The target range for the buyback was Rs500 billion to Rs600 billion.
Saad Hanif, head of research at Ismail Iqbal Securities,…