SBP announces procedure for buyback of T-bills

KARACHI: The State Bank of Pakistan (SBP) has announced procedure for execution of buyback transactions of treasury bills.

According to a circular issued on Friday, the SBP will conduct a buyback auction of treasury bills on behalf of the government.

The SBP will announce the details such as security, target amount, auction schedule, etc, and auction result for the buyback of MTBs on Refinitiv, Bloomberg, SBPK pages and on SBP website, said the circular.

The buyback price of the security will be determined through multiple-price competitive auction process, it added.

All banks will be eligible to submit competitive bids in the auctions. Non-competitive bids can also be submitted as per existing instructions.

Eligible participants will be required to submit the details of bid price (per Rs100 of face value) for the buyback up to four decimal and amount of the securities in the auction bidding on Bloomberg Auction Module (AUPD) within the stipulated time.

On settlement date, the bought back securities will be debited from the SGLA of successful bidders while their current accounts will be credited with the accepted price.

Apart from the above, all other auction rules and procedures will apply to the buyback auctions as defined in various auction related circulars.

Published in Dawn, September 28th, 2024

from The Dawn News - Home https://ift.tt/D6smy4G

Comments

Dodgers’ Shohei Ohtani skipping home run derby

Baseball’s biggest star is skipping the home run derby. Shohei Ohtani confirmed after Tuesday’s win over the Diamondbacks that he will not be participating as he continues to rehab an elbow injury that has prevented him from pitching this season. “There’s been some conversations going on,” Ohtani said, according to Juan Toribio of MLB.com . “I’m in the middle of my rehab progression, so it’s not going to look like I’ll be participating.” Manager Dave Roberts said Ohtani and the club reached the decision together. Ohtani signed a historic 10-year, $700-million contract with the Dodgers after winning his second AL MVP award last season with the Angels. Despite his elbow injury, he has served as the Dodgers’ primary DH this season and been one of the most productive hitters in baseball. Ohtani entered Tuesday hitting .316/.399/.635 with a 1.034 OPS. He hit his NL-leading 27th home run in the win. Ohtani had previously participated in the Derby in 2021. Last season’s champion, Vlad...

Pakistan flag installed at UNSC as country becomes non-permanent member for 8th time

The Pakistani national flag was installed in front of the United Nations Security Council chamber, as the country began its eighth term as a non-permanent member (2025-26) of the 15-member body, according to a press release issued by the Permanent Mission of Pakistan to the United Nations on Thursday. Pakistan on Wednesday began a two-year term as a non-permanent member of the United Nations Security Council (UNSC). Elected in June to replace Japan, Pakistan now occupies one of the two Asia-Pacific seats on the UNSC. It will preside over the council in July, a key opportunity to set the agenda and foster dialogue. View this post on Instagram This marks Pakistan’s eighth term on the council, providing an opportunity to shape discussions on pivotal international issues, but also posing significant challenges. “As part of the joining ceremony, flags of the five new incoming non-permanent members — Pakistan, Denmark, Greece, Panam...

Heathrow resumes operations as global airlines scramble after shutdown

London’s Heathrow Airport resumed full operations on Saturday, a day after a fire knocked out its power supply and shut Europe’s busiest airport, causing global travel chaos. The travel industry was scrambling to reroute passengers and fix battered airline schedules after the huge fire at an electrical substation serving the airport. Some flights had resumed on Friday evening, but the shuttering of the world’s fifth-busiest airport for most of the day left tens of thousands searching for scarce hotel rooms and replacement seats while airlines tried to return jets and crew to bases. Teams were working across the airport to support passengers affected by the outage, a Heathrow spokesperson said in an emailed statement. “We have hundreds of additional colleagues on hand in our terminals and we have added flights to today’s schedule to facilitate an extra 10,000 passengers travelling through the airport,” the spokesperson said. The travel industry, facing the prospect of a financial ...

Pakistan News

Search This Blog