A news item released by APP, Islamabad and carried by a section of the press today regarding the issuance of a new Liara Sukuk under which Government of Pakistan (GoP) plans to raise Rs 80 billion. The news item is incorrect and misleading. It is clarified that there is no such programme to issue the Liara Sukuk from the State Bank for the second half of the current year 2010-2011.
It may be pointed out that there is already a programme in place to issue GoP Ijara Sukuk with the underlying asset valuing Rs 191.50 billion. Under this programme, the State Bank has already conducted two auctions of the Ijara Sukuk amounting Rs 51.84 billion and Rs 37.17 billion on 8th November 2010 and 13th December 2010 respectively against the cumulative target amount of Rs 80 billion. Details of any new auction schedule for the second half of 2010-11 have not yet been announced.-PR
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