Govt to issue SUKUK II by March, a breather to power sector

News Image

By MG News | February 14, 2020 at 01:02 PM GMT+05:00

0:00

February 14, 2020 (MLN): Govt of Pakistan will issue the second Energy Sukuk worth Rs 200 billion through the consortium of Islamic Banks, aiming at easing off the burden of longstanding circular debt issue faced by Pakistan’s economy.

The issuance of Shariah bond will become a breather for the power sector, providing the much-needed liquidity.

Regarding transparency of Sukuk II, the ministry of finance has invited financial institutions to submit their term sheets through open bidding. The interested institutions will have to submit their proposals by February 14, 2020, i.e. today.  

It is prudent to mention that the bids will be opened on Monday 17, 2020.

According to sources, the Federal government chose Meezan Bank and Habib Bank Limited as the lead arrangers, helping the government to structure the second Sukuk.

The bond will have a 10 year maturity period. It is expected that the profit rate will be based on KIBOR plus less than 100 basis points.

Further, Sukuk II will be issued by mid of March, sources said.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 128,199.43
336.91M
2.05%
2572.11
ALLSHR 79,787.62
1,023.63M
1.53%
1202.91
KSE30 39,105.00
121.90M
2.49%
951.21
KMI30 186,915.61
131.16M
1.10%
2029.11
KMIALLSHR 54,201.88
553.60M
0.81%
438.07
BKTi 33,476.68
51.49M
4.87%
1555.00
OGTi 27,962.58
9.77M
0.68%
188.60
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 105,940.00 106,200.00
105,440.00
190.00
0.18%
BRENT CRUDE 67.23 67.29
67.05
0.12
0.18%
RICHARDS BAY COAL MONTHLY 97.50 97.50
97.50
0.70
0.72%
ROTTERDAM COAL MONTHLY 103.80 103.80
103.80
-3.45
-3.22%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 65.53 65.65
65.34
0.08
0.12%
SUGAR #11 WORLD 15.70 16.21
15.55
-0.50
-3.09%

Chart of the Day


Latest News
July 02, 2025 at 06:01 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market


July 01, 2025 at 10:04 PM GMT+05:00

Pakistan’s trade deficit improves by over 9% in June


July 01, 2025 at 05:24 PM GMT+05:00

Gold price in Pakistan rises Rs6,600 per tola



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg