The borrowing breakup suggests, the government raised Rs320 billion against set target of Rs200 billion against auction of three-month T-bill. photo: filePakistan’s financial markets maintained record breaking spree, as commercial banks’ lending rate on financing to the cash-strapped government for a period of six-month hit 24-year high at 14.99% on Wednesday. The government’s demand for financing from commercial banks is estimated to remain high, as it needs a significant amount of financing to overcome budgetary shortfall. “This is a significantly higher number for borrowing from domestic commercial banks,” Abbas said. It acquired Rs160 billion against a target of Rs100 billion through selling 12-month T-bill papers to commercial banks in the latest auction.

Source: The Express Tribune April 28, 2022 13:15 UTC