The State Bank of Pakistan (SBP) has set a cumulative auction target of Rs6.525 trillion for Market Treasury Bills (MTBs) and Pakistan Investment Bonds (PIBs) for March to May 2026, underscoring heavy refinancing needs and continued reliance on domestic debt markets. According to the auction calendars issued by the SBP's Domestic Markets & Monetary Management Department, the central bank plans to raise Rs5 trillion through short-term MTBs and Rs1.525 trillion via PIBs during the three-month period. [...]