Karachi December 7 2023: Government of Pakistan (GoP) appointed PSX, NCCPL and CDC (collectively known as Capital Market Infrastructure Institutions – CMIIs) to conduct issuance of 1-Year GOP IJARAH SUKUK through auction mechanism.
The first auction of PKR 30 billion is planned to be conducted on December 08, 2023 (Friday). In this reference, CMIIs have developed the necessary system and procedures for participants and investors to take part in it.
All Broker Clearing Members (BCMs) and Non-Broker Clearing Members (NBCMs) of National Clearing Company of Pakistan Limited (NCCPL) are eligible to participate directly in the Auction for their proprietary accounts, funds under their management and investors. Participants, who are willing to participate in this primary market auction, are advised to contact NCCPL/PSX at (nccpl-docs@nccpl.com.pk; trading@psx.com.pk) with subject clearly specifying ‘Primary Market Auction Setup’ as per the following format latest by 05:00 PM, Thursday, December 07, 2023.
Government of Pakistan issues both conventional as well as Islamic types of debt instruments, catering to the needs of all types of investors under the relevant rules and regulation.
PSX along with other Capital Market Infrastructure Institution (CMIIs) will conduct primary market auction of 1- Year GOP Irajah Sukuk Issued at Discount.
This will be the new instrument to be auctioned through CMIIs and is not currently auctioned using State Bank of Pakistan Platform.
Pakistan Stock Exchange Limited will carry out the Auction for the sale of 1 Year Listed Government of Pakistan (GOP) Ijarah Sukuk in accordance with the Auction Target Calendar from Dec 2023 till Feb 2024, as mentioned below:
