August 08, 2025 – 10:44 AM (GMT+5)

KARACHI – The Government of Pakistan, via the Pakistan Stock Exchange (PSX), is set to raise Rs600 billion through auctions of GoP Ijarah Sukuk (GIS) between August and October 2025, according to the latest auction calendar.

The target includes:

• Rs150 billion from Short-Term Sukuk (GIS – Discounted) of 1-year tenor, with Rs50bn to be raised in each of the three scheduled auctions on August 20, September 17, and October 15, 2025.
• Rs225 billion from GIS – Fixed Rental Rate Sukuk, with each auction offering Rs75bn across 3-year, 5-year, and 10-year maturities.
• Rs225 billion from GIS – Variable Rental Rate Sukuk, also offering Rs75bn in each auction, allocated to 5-year and 10-year tenors.

The PSX notice further highlights:

• The 10-year GIS – Fixed will be issued as a zero-coupon instrument.
• The 3-year GIS – Variable Rental Rate Sukuk has been discontinued effective May 2025.

These auctions are part of the government’s Shariah-compliant financing strategy aimed at broadening its investor base and managing fiscal requirements efficiently.