KARACHI: The Pakistan Stock Exchange (PSX) has released a revised auction calendar for Government of Pakistan Hybrid Sukuk and Ijarah Sukuk covering July to September 2026. The updated schedule follows recommendations from the Debt Management Office (DMO) of the Ministry of Finance.
According to the revised calendar, the government aims to raise a total of Rs925 billion through Sukuk auctions during the three-month period. Moreover, the schedule includes short-term Hybrid Sukuk with three-month and six-month maturities. It also covers one-year, three-year, five-year, and ten-year instruments.
Under the Discounted and Variable Rental Rate (VRR) Hybrid Sukuk programme, PSX will conduct five auctions between July 22 and September 16. Each auction carries a target of Rs125 billion, bringing the total target under this category to Rs625 billion. Mettis Global News reported this important development today.
Multiple Auctions Planned Under Updated Schedule
The VRR Sukuk programme includes targets of Rs25 billion each for three-month, six-month, and one-year tenors. Additionally, the ten-year tenor has a target of Rs50 billion in every auction.
Meanwhile, PSX will conduct two auctions for Fixed Rental Rate (FRR) Hybrid Sukuk and Fixed Rate Zero Coupon (FRZ) Ijarah Sukuk on August 4 and September 18. Together, these auctions carry a combined target of Rs300 billion.
Each auction will include three-year, five-year, and ten-year instruments, with every tenor targeting Rs50 billion.
Furthermore, PSX said all Sukuk auctions will follow the Non-Uniform Pricing, or Pay-as-Bid, mechanism. Non-Competitive Bids will be accepted at the weighted average accepted yield or price. The exchange added that detailed auction guidelines and notices will be issued before each scheduled auction.
