According to a statement released by the State Bank of Pakistan (SBP) on Friday, the SBP conducted an open market operation (OMO) in the form of a reverse repo in order to infuse Rs996 billion worth of liquidity into the money market. The State Bank of Pakistan reported that of the 996 billion rupees that were injected, 157.75 billion rupees were injected for seven days, while the rest 838.25 billion rupees were injected for 63 days at a rate of return of 15.09pc. OMO, or open market operations, are routinely carried out by the central bank in order to fulfil the requirements for government funding. It is important to note that in accordance with the programme established by the International Monetary Fund (IMF), the government is not permitted to borrow money directly from the SBP. As a result, the central bank will pump this liquidity into commercial banks, and the commercial banks will then utilise this money to buy government assets. There were about seven bids filed by participants for 07 days OMO, and the range of those bids was from 15.09pc to 15.22pc. The total amount raised was Rs157.75 billion. Although we received 26 bids, the lowest one was 15.09pc and the highest one was 15.18pc for 73 days OMO.