The Pakistani government has successfully raised Rs. 119 billion through a Sukuk auction held at the Pakistan Stock Exchange (PSX). This marked the 12th such auction conducted by the Ministry of Finance.
The auction saw strong investor interest, with total bids reaching Rs. 451 billion. The government accepted bids for various maturities, including 1-year, 3-year, and 5-year fixed and variable rate Sukuk.
The auction resulted in lower interest rates for the 1-year, 3-year, and 5-year Sukuk compared to previous auctions. This indicates a decline in borrowing costs for the government.
The successful Sukuk auction demonstrates the confidence of investors in the Pakistani economy and the government’s ability to raise funds through the capital market.