The federal government raised a total of Rs586.7 billion through a Treasury Bill auction on Wednesday, according to data from the State Bank of Pakistan (SBP). The accepted amount comprised Rs232.46 billion in competitive bids and Rs354.25 billion through non-competitive bids.

The overall fund-raising exceeded both the auction target of Rs400 billion and the maturing T-bill amount of Rs435 billion, signalling the government's elevated liquidity requirements. Overall participation remained robust, with total bids from commercial banks and corporates reaching Rs2.192 trillion.

The highest demand was observed in the 12-month tenor, where total offers reached Rs676 billion and the government accepted Rs201 billion. Market analysts noted that the government accepted less than total bank offers due to comfortable market liquidity, which has also supported a pickup in private-sector credit growth.