PSX reschedules GIS auction to October 14

By MG News | Category Equity | September 30, 2024 at 11:39 AM GMT+05:00

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September 30, 2024 (MLN): The Pakistan Stock Exchange (PSX) announced today that the GIS auction originally scheduled for Thursday, October 3, 2024, has been rescheduled to Monday, October 14, 2024.

According to the notice, 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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