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TABLE 5.12
SALE OF GOVERNMENT SECURITIES THROUGH AUCTION
(Rs Million)
End March |
|||||||||
| No. Securities | 1991-92 |
1992-93 |
1993-94 |
1994-95 |
1995-96 |
1996-97 |
1997-98 |
1998-99 |
1999-2000 |
| 1. Short Term Federal Bond | |||||||||
| (Sixth Months Maturities) | |||||||||
| a) Amount Offered | -- |
-- |
-- |
-- |
-- |
183462 |
495554 |
-- |
-- |
| b) Amount Accepted | -- |
-- |
-- |
-- |
-- |
144752 |
246676 |
-- |
-- |
| c) Weighted Average Yield # | |||||||||
| i) Minimum | -- |
-- |
-- |
-- |
-- |
13.00 |
12.10 |
-- |
-- |
| ii) Maximum | -- |
-- |
-- |
-- |
-- |
17.42 |
16.46 |
-- |
-- |
| 2. Six Months Treasury Bills | |||||||||
| (Six Months Maturities) | |||||||||
| a) amount Offered | 122916 |
200496 |
272341 |
250457 |
135549 |
-- |
33353 |
-- |
-- |
| b) Amount Accepted | 76014 |
106212 |
136505 |
146693 |
106308 |
-- |
25453 |
-- |
-- |
| c) Weighted Average Yield # | |||||||||
| i) Minimum | 9.3700 |
11.7681 |
10.3772 |
10.5643 |
12.6284 |
-- |
14.7 |
-- |
-- |
| ii) Maximum | 13.1500 |
12.8474 |
14.3943 |
12.7277 |
13.0296 |
-- |
15.7 |
-- |
-- |
| 3. Federal Investment Bonds | |||||||||
| A) Amount Offered in a | 56407 |
77127 |
63284 |
42154 |
18026 |
4,841 |
4,460 |
-- |
-- |
| B) Acceptances | 44974 |
53578 |
26611 |
29988 |
15965 |
4,727 |
3,660 |
-- |
-- |
| a) 3 Years Maturities | |||||||||
| i) Amount A | 10649 |
12600 |
10708 |
8785 |
3877 |
1111 |
1331 |
-- |
-- |
| ii) Weighted Average Yield # | |||||||||
| a) Minimum | 12.9500 |
12.9500 |
12.9845 |
13.9973 |
13.0000 |
13.00 |
13.00 |
-- |
-- |
| Maximum | 13.7900 |
13.0400 |
13.8188 |
13.0282 |
13.0000 |
13.00 |
13.58 |
-- |
-- |
| b) 5 Years Maturities | |||||||||
| i) Amount A | 3007 |
5138 |
4034 |
2267 |
4169 |
106 |
177 |
-- |
-- |
| ii) Weighted Average Yield # | |||||||||
| a) Minimum | 14.0000 |
13.9900 |
13.9972 |
13.9998 |
14.0000 |
14.00 |
14.00 |
-- |
-- |
| b) Maximum | 14.6900 |
14.0000 |
14.4521 |
14.0000 |
14.0000 |
14.00 |
14.00 |
-- |
-- |
| c) 10 Years Maturities | |||||||||
| i) Amount A | 31318 |
35840 |
11869 |
18936 |
7919 |
3510 |
2152 |
-- |
-- |
| ii) Weighted Average Yield # | |||||||||
| a) Minimum | 14.9974 |
15.0000 |
15.0000 |
14.9875 |
15.0000 |
15.00 |
15.00 |
-- |
-- |
| b) Maximum | 15.6600 |
15.1200 |
16.5097 |
15.0009 |
15.0276 |
15.02 |
15.03 |
-- |
-- |
#: Percent per annum
Note: 1. Six Months Treasury Bills sold through auctions at discount were replaced by
Short Term Federal Bonds (STFB) from July, 1996 are now sold at face value and repaid at
maturity with the rate of return fixed at auction.
2. Auction of STFBs has been discontinued in end-June 1998 and replaced by Government of
Pakistan market Treasury Bills (MTBs) (3.6 and 12 months maturity). The first auction of
Six months MTBs was held on 24-6-1997.
TABLE 5.12
SALE OF GOVERNMENT SECURITIES THROUGH AUCTION
(Rs Million)
End March |
|||||||
| Securities | 1993-94 |
1994-95 |
1995-96 |
1996-97 |
1997-98 |
1998-99 |
1999-2000 |
| MARKET TREASURY BILLS | |||||||
| A. Three Months Maturity | |||||||
| Amount Offered | |||||||
| i) Face Value | -- |
-- |
-- |
-- |
-- |
147,735 |
61,370 |
| ii) Discounted Value | -- |
-- |
-- |
-- |
-- |
143,719 |
60,142 |
| Amount Accepted | |||||||
| i) Face Value | -- |
-- |
-- |
-- |
-- |
45,985 |
15,985 |
| ii) Discounted Value | -- |
-- |
-- |
-- |
-- |
44,893 |
15,705 |
| Weighted Average Yield Accepted | |||||||
| i) Minimum % p.a. | -- |
-- |
-- |
-- |
-- |
6,660 |
6,944 |
| ii) Maximum % p.a. | -- |
-- |
-- |
-- |
-- |
14,616 |
8,958 |
| B. Six Months Maturity | |||||||
| Amount Offered | |||||||
| i) Face Value | -- |
-- |
-- |
-- |
-- |
343,937 |
152,195 |
| ii) Discounted Value | -- |
-- |
-- |
-- |
-- |
322,564 |
145,264 |
| Amount Accepted | |||||||
| i) Face Value | -- |
-- |
-- |
-- |
-- |
102,669 |
54,950 |
| ii) Discounted Value | -- |
-- |
-- |
-- |
-- |
96,161 |
52,393 |
| Weighted Average Yield Accepted | |||||||
| i) Minimum % p.a. | -- |
-- |
-- |
-- |
-- |
10,599 |
7,444 |
| ii) Maximum % p.a. | -- |
-- |
-- |
-- |
-- |
15,740 |
10,355 |
| C. Twelve Months Maturity | |||||||
| Amount Offered | |||||||
| i) Face Value | -- |
-- |
-- |
-- |
-- |
283,038 |
168,046 |
| ii) Discounted Value | -- |
-- |
-- |
-- |
-- |
247,934 |
152,402 |
| Amount Accepted | |||||||
| i) Face Value | -- |
-- |
-- |
-- |
-- |
78,960 |
47,255 |
| ii) Discounted Value | -- |
-- |
-- |
-- |
-- |
69,148 |
42,847 |
| Weighted Average Yield Accepted | |||||||
| i) Minimum % p.a. | -- |
-- |
-- |
-- |
-- |
10,098 |
7,892 |
| ii) Maximum % p.a. | -- |
-- |
-- |
-- |
-- |
16,000 |
10,871 |
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