Karachi: The Pakistan Stock Exchange (PSX) is set to conduct the inaugural issuance of the Government of Pakistan (GoP) Ijarah Green Sukuk (GIGS) under the Sustainable Investment Sukuk Framework. Scheduled for Friday, May 16, 2025, the auction will take place through the PSX Auction System, following the established mechanism for Government Ijarah Sukuk (GIS) issuance.

All Broker Clearing Members (BCMs), Non-Broker Clearing Members (NBCMs), and Professional Clearing Members (PCMs) of the National Clearing Company of Pakistan Limited (NCCPL) are eligible to participate in the auction for their proprietary accounts, investors, and managed funds. According to information available from the Pakistan Stock Exchange (PSX), the auction aims to engage market participants in a primary market auction setup, ensuring a seamless transition into the green financing sector.

Participants are required to adhere to specific protocols, including utilizing existing credentials from the 20th GIS auction held on April 30, 2025. The auction system will integrate with the Central Depository Company (CDC) system, necessitating accurate entry of unique investor numbers and account details. BCM participants must communicate their expression of interest and a 10% advance committed cash amount to NCCPL and PSX by May 14, 2025.

The auction, set for May 16, 2025, will accept both competitive and non-competitive bids between 10:00 a.m. and 12:00 p.m., with the final collection of settlement amounts scheduled for May 19, 2025. The designated market category for this issuance is the primary market auction of green financial instruments, representing a significant step in sustainable investment initiatives in Pakistan.