Higher auction size reflects growing focus on long-term Shariah-compliant financing.
Image: The Halal Times
The government has increased the target size of its 10-year GoP Hybrid Sukuk auction to Rs200 billion, up from the previously planned Rs50 billion.
According to the Pakistan Stock Exchange (PSX), the revised target applies to the reopening of the variable rental rate (VRR) Sukuk auction held on June 10, 2026. All other auction details remain unchanged.
The Sukuk, originally issued in April 2026 and maturing in 2036, is based on a hybrid Shariah-compliant structure combining Ijarah and Commodity Murabaha financing.
The increase signals the government’s stronger reliance on long-term Islamic financing to meet funding requirements and diversify borrowing sources.
PSX has also released a revised auction calendar for June-August 2026. The schedule sets a cumulative target of Rs1.6 trillion for variable-rate Hybrid Sukuk issuances and Rs450 billion for fixed-rate Hybrid Sukuk and Ijarah Sukuk auctions.
Market participants view the larger auction targets as a sign of growing demand for sovereign Sukuk and the government’s efforts to deepen Pakistan’s Islamic capital market.
Meanwhile, the Pakistani rupee gained slightly against the US dollar, closing at Rs278.37 in the interbank market, compared with Rs278.40 a day earlier.
Gold prices also moved higher. The price of gold rose by Rs2,830 per tola to Rs455,063 in the local market, following gains in international bullion prices.
