PSX reschedules GIS auction to Oct 18

By MG News | October 09, 2024 at 11:15 AM GMT+05:00

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October 09, 2024 (MLN): The Pakistan Stock Exchange (PSX) has once again rescheduled the GIS auction to Friday, October 18, 2024, which was earlier planned for Monday, October 14, 2024.

According to a notice issued by the local bourse, this change is in accordance with advice from the Debt Management Office of the Ministry of Finance (MoF).

The auction notice, target amount, and other relevant details will be communicated to market participants prior to the auction.

As per the annual borrowing plan for FY25, the government aims to finance the maturities of T-Bills through long-term government securities, such as PIBs and Government Ijara Sukuk.

In the previous GIS auction held on September 16, the government picked up Rs207.6bn, down from its target of Rs250bn.

It is worth noting that in that auction, the 10-year VRR and FRR bonds were issued for the first time.

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