KARACHI: The government raised Rs199.4 billion through the auction of fixed-rate Pakistan Investment Bonds (PIBs) on Tuesday.

The highest amount of Rs97.3bn was raised through three-year PIBs at nine per cent per annum with corresponding bids for this tenure at were Rs128.5bn.

Another Rs57.25bn was raised for five-year bond and Rs29.82bn for 10-year with annual rates of 9.5pc and 10pc, respectively.

Similarly, Rs10bn and Rs5bn were raised for 15and 20-year instruments at 10.5pc and 11pc, respectively.

The total bids for the latest PIB auction stood at Rs263.9bn.