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Print Print edition: 2023-12-09

Sukuk receives Rs479bn participation against Rs30bn target

Published December 9, 2023 Updated December 9, 2023 04:34pm
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By Recorder Report
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KARACHI: The first-ever auction for a one-year Government of Pakistan Ijarah Sukuk at the Pakistan Stock Exchange on Friday received an extraordinary response as expected.

The auction for this sovereign Islamic paper received total participation of Rs 479 billion as compared to the target of Rs 30 billion.

This extraordinary response was expected, Muhammad Sohail, a leading analyst said.

MTBs and Ijara Sukuk Rules: Cabinet approves summary regarding amendment: MoF

The government will decide the amount to be raised and the cut-off yield soon. It was a landmark development for the financial markets of Pakistan, the Primary Market Auction of Government Debt Securities (GDS) will now also be held at PSX.

This follows the change in rules by the Cabinet to enable government debt to be raised from the capital markets, in addition to the State Bank of Pakistan.

Copyright Business Recorder, 2023

SBP sukuk PSX debts Government Debt Securities government debt

Comments

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Usman Dec 09, 2023 10:20am
Enough of govt borrowing and these institutions making easy money.its time imf makes its strict for govt to borrow locally so this money can be lent to businesses in pakistan.
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Tahir M Khan Dec 09, 2023 10:54am
The process for auction was not easy for common investor. I tried reaching to PSX broker and CDC eIPO system but there was no information or advise to include common investor. All big mutual fund and usual investors participated. Madam FM should take note and keep quota for small investor and make subscription easier
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Ali Salman Paracha Dec 09, 2023 11:14am
How can one participate? Any information and process steps issued by Debt Office or Finance Ministry?
0
Amir Dec 09, 2023 07:01pm
@Ali Salman Paracha, Open your account with any broker of psx, you cannot buy directly.
0
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