Government to issue Rs 200 billion Pakistan Energy Sukkuk

MG News | June 20, 2019 at 10:49 AM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

June 20, 2019 (MLN): In order to pay off the arrears in the power sector, the federal government has decided to issue Pakistan Energy Sukuk worth Rs 200 billion.

According to the sources, the bonds would be sold to the Islamic Banks, Mutual funds and Takaful companies. In addition, Meezan Bank is the lead manager to issue of Pakistan Energy Sukuk.

The maturity period of these bonds would be tenor of 10 years and the rate of return on these bonds will be 6 months KIBOR plus 80 basis points.

Earlier, in March, government issued the first tranche of bonds worth Rs 200 billion and Meezan Bank was the largest investor in the Sukuk with the participation of Rs. 88 billion.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	177,370.71 271.87M	0.23% 404.02
ALLSHR	107,716.20 642.21M	0.11% 116.44
KSE30	52,827.24 82.38M	0.35% 182.71
KMI30	251,579.93 132.42M	0.03% 64.11
KMIALLSHR	69,528.14 417.99M	0.00% 2.11
BKTi	50,313.91 13.15M	1.11% 551.71
OGTi	36,509.94 8.96M	-0.87% -321.36

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	78,730.00	81,350.00 78,650.00	-120.00 -0.15%
BRENT CRUDE	89.48	92.90 88.75	-2.69 -2.92%
RICHARDS BAY COAL MONTHLY	110.30	0.00 0.00	-0.20 -0.18%
ROTTERDAM COAL MONTHLY	124.80	124.80 124.80	0.30 0.24%
USD RBD PALM OLEIN	1,228.00	1,228.00 1,228.00	0.00 0.00%
CRUDE OIL - WTI	82.50	85.84 81.81	-2.51 -2.95%
SUGAR #11 WORLD	17.15	17.74 17.13	-0.50 -2.83%