Islamabad, June 19 -- Pakistan has successfully raised over Rs1.2 trillion through a large-scale government bond auction, marking a major step in the country's debt management and financial reform strategy. A significant portion of this amount-Rs47 billion-was collected through the launch of the country's first-ever 15-year zero-coupon bond, which attracted strong demand from investors.

Unlike traditional bonds, zero-coupon bonds do not pay yearly interest. Instead, investors receive a lump sum at the end of 15 years. This helps the government reduce pressure from short-term repayments and ensures greater stability in public finances. It also offers a reliable, long-term investment option for institutional and individual investors.

In a...