Karachi: The Pakistan Stock Exchange (PSX) has announced the suspension of trading for the Government of Pakistan Ijarah Sukuk (GIS) due to an upcoming rental payment. The GIS, issued through a primary market auction on January 24, 2024, will have its rental payments due on July 24, 2025. All eligible investors will receive these payments on this date.

The trading suspension will affect various securities related to the GIS. The PSX has provided a detailed schedule for this suspension, which will also impact clearing and settlement processes at the National Clearing Company of Pakistan Limited (NCCPL) and the movement in Sub Accounts and Investor Accounts at the Central Depository Company (CDC).

According to the schedule, trading for the 3 Year Fixed Rental Rate GIS, maturing on January 24, 2027, will be suspended on the PSX from July 21 to July 23, 2025. Similarly, the shut period for these securities at the CDC will be from July 22 to July 23, 2025. The same suspension dates apply to the 5 Year Fixed Rental Rate GIS maturing on January 24, 2029, the 3 Year Variable Rental Rate GIS maturing on January 24, 2027, and the 5 Year Variable Rental Rate GIS maturing on January 24, 2029.

According to information available from the Pakistan Stock Exchange (PSX), this suspension is a routine procedure to ensure the orderly processing of rental payments to investors. The designated market category affected by this suspension is the fixed and variable rental rate sukuk issued by the Government of Pakistan.

Market participants are advised to take note of these dates to plan their trading activities accordingly.