PM says 70% Sukuk over-subscription shows strong market confidence

MG News | May 20, 2020 at 04:45 PM GMT+05:00

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May 20, 2020: Prime Minister Imran Khan on Wednesday said over-subscription of Sukuk by 70% was reflective of a "strong market confidence in the government's policies".

"Landmark financial innovation with Rs 200 bln Sukuk issued through competitive book building at PSX," the prime minster tweeted as the government for the first time borrowed long term at less than the Kibor, saving Rs 18 billion over 10 years on debt servicing.

Imran Khan said the Rs18 billion savings could now be used for welfare of the people.

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KSE30	45,453.36 99.47M	-1.14% -522.50
KMI30	218,271.12 195.05M	-0.92% -2019.44
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Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	67,165.00	0.00 0.00	30.00 0.04%
BRENT CRUDE	109.24	109.74 99.08	8.08 7.99%
RICHARDS BAY COAL MONTHLY	112.50	0.00 0.00	6.40 6.03%
ROTTERDAM COAL MONTHLY	113.00	114.50 113.00	-0.40 -0.35%
USD RBD PALM OLEIN	1,175.00	1,175.00 1,175.00	0.00 0.00%
CRUDE OIL - WTI	112.06	0.00 0.00	0.52 0.47%
SUGAR #11 WORLD	14.96	15.50 14.91	-0.33 -2.16%