The State Bank of Pakistan (SBP) has announced its Dec 2025-Feb 2026 debt auction calendar, targeting a combined Rs5.45 trillion through domestic securities. This includes Rs3.85 trillion via six Market Treasury Bill (MTB) auctions against Rs3.884 trillion maturing papers (net retirement around Rs34 billion), with the heaviest Rs1 trillion auction scheduled for December 10.

Additionally, three fixed-rate Pakistan Investment Bond (PIB) auctions will raise Rs1.2 trillion, while six semi-annual floating-rate 10-year PIB auctions will add another Rs400 billion.