Pakistan Stock Exchange (PSX) has rolled out a calendar for raising funds of Rs. 250 through Sukuks in January 2025.
Market Participants have been informed that the PSX will carry out Auction(s) for the sale of GoP Ijarah Sukuk (GIS) in accordance with the revised Auction Target Calendar for January 2025, the circular stated.
According to the details, the PSX will auction short-term Sukuk of Rs. 75 billion for the period of one year. Three Sukuk of each Rs. 25 billion will be auctioned for the period of 3, 5 and 10 years against the mode of Fixed Rental Rate.
The management of the stock market will further auction two Sukuks of Rs. 25 billion for the period of 3 years and 5 years against the mode of Variable Rental Rate.
Further, a Sukuk to the tune of Rs. 50 billion will be raised for the period of 10 years. PSX has been active in floating Sukuks for the past two years contributing positively for the development of the Islamic banking industry.
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