Govt targets to raise Rs600bn through GIS auction from Aug-Oct

MG News | August 08, 2025 at 10:44 AM GMT+05:00

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August 8, 2025 (MLN): The Pakistan Stock Exchange Limited (PSX) will conduct auctions for the sale of GoP Ijarah Sukuk (GIS) from August to October 2025, targeting a total of Rs600 billion across various tenors and instruments.

According to the auction target calendar, the government aims to raise Rs150bn through the sale of Short Term Sukuk – GIS Discounted (1-year tenor), with Rs50bn to be raised in each of the three scheduled auctions on August 20, September 17, and October 15, 2025.

For GIS – Fixed Rental Rate instruments, the target is set at Rs225bn, with each auction offering Rs75bn split equally among 3-year, 5-year, and 10-year maturities.

Similarly, GIS – Variable Rental Rate Sukuk will also target Rs225bn, with each auction offering Rs75bn allocated to 5-year, and 10-year maturities.

The note in the schedule highlights that the 10-year GIS-Fixed Rental Rate will be a zero-coupon instrument, while the 3-year GIS-Variable Rental Rate will be discontinued from May 2025.

GIS Type	Auction Date	Tenor Wise Targets (PKR in Bn)
GIS Type	Auction Date	Settlement Date	1 Year (PKR Bn)	3 Year (PKR Bn)	5 Year (PKR Bn)	10 Year (PKR Bn)	Target Auction Size (PKR Bn)
Short Term Sukuk – GIS - Discounted	20-Aug-25	21-Aug-25	50	-	-	-	50
	17-Sep-25	18-Sep-25	50	-	-	-	50
	15-Oct-25	16-Oct-25	50	-	-	-	50
Total			150	-	-	-	150
GIS - Fixed Rental Rate	20-Aug-25	21-Aug-25	-	25	25	25	75
	17-Sep-25	18-Sep-25	-	25	25	25	75
	15-Oct-25	16-Oct-25	-	25	25	25	75
Total			-	75	75	75	225
GIS - Variable Rental Rate	20-Aug-25	21-Aug-25	-	-	25	50	75
	17-Sep-25	18-Sep-25	-	-	25	50	75
	15-Oct-25	16-Oct-25	-	-	25	50	75
Total			-	-	75	150	225

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