Govt borrows Rs418bn

Govt borrows Rs418bn

Govt borrows Rs418bn KARACHI: The government raised double the target set for the auction of treasury bills with slightly declined cut-off yields on Wednesday.

The government raised Rs418 billion through T-bills whereas the target set was of Rs200bn, indicating that the government will keep relying on borrowed money and that scheduled banks would follow the trend set for the last few years.

Borrowing from scheduled banks continued despite the government’s claims that it succeeded to accumulate more than the targeted revenue for FY16.

Source: http://www.dawn.com/news/1272085/govt-borrows-rs418bn

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