The Pakistan Stock Exchange has officially announced the resumption of trading activities for the Government of Pakistan Ijarah Sukuk issue originally dated June 28, 2024. Secondary market transactions for these Shariah-compliant sovereign debt instruments will formally restart on Monday, June 29, 2026. This resumption follows a temporary operational suspension enacted by the exchange to facilitate the smooth processing and distribution of periodic rental payments to eligible investors. Because the official conclusion of the rental payment cycle falls on a Sunday, the capital market operator deferred the opening of the order book to the next immediate business day.
The trading reactivation applies comprehensively to both the 3-year and 5-year maturities across the Fixed Rental Rate and Variable Rental Rate sovereign lines. Alongside the resumption timeline, the exchange has formally integrated revised semi-annual profit rates for the Variable Rental Rate instruments. These adjustments are structurally calculated using the newest six-month weighted average market yield, which was officially locked in at 11.7239 percent as of June 23, 2026. This mechanism ensures that the yields on floating Islamic debt products remain tightly aligned with broader secondary market fixed-income dynamics and baseline monetary indicators.
Under the updated rate schedule, the 3-Year Variable Rental Rate GIS, identified under security code P03VRR280627 and maturing on June 28, 2027, will offer investors an elevated net profit rate of 11.4239 percent. This reflects a notable increase from the previously applicable yield threshold of 10.1639 percent, incorporating the built-in negative auction spread of 30 basis points. Concurrently, the 5-Year Variable Rental Rate GIS, carrying security code P05VRR280629 and holding a final maturity date of June 28, 2029, has been adjusted to a revised net profit rate of 11.4139 percent, up from its former level of 10.1539 percent after factoring in its fixed negative auction spread of 31 basis points.
The 3-Year Variable Rental Rate GIS (Maturity: June 28, 2027) previously carried a net profit rate of 10.1639 percent. Factoring in the latest six-month weighted average yield of 11.7239 percent and applying the fixed auction spread of negative 30.00 basis points, its newly revised net profit rate stands at 11.4239 percent. Meanwhile, the 5-Year Variable Rental Rate GIS (Maturity: June 28, 2029) previously featured a net profit rate of 10.1539 percent. Utilizing the identical six-month weighted average yield benchmark of 11.7239 percent and adjusting for its specific fixed auction spread of negative 31.00 basis points, its newly revised net profit rate is established at 11.4139 percent.
The public exchange has formally advised brokerage houses, institutional treasury desks, asset management companies, and individual clearing participants to fully acknowledge these updated return profiles. Market stakeholders are requested to immediately update their automated valuation models, internal portfolio records, and centralized transaction systems to reflect the new yield metrics. This administrative precision is vital to prevent pricing discrepancies, safeguard automated clearing loops, and guarantee seamless trade execution once secondary market order matching goes live on Monday morning.
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