Karachi: All market participants have been informed that trading in the Government of Pakistan (GoP) Ijarah Sukuk (GIS) will resume on Friday, July 24, 2026. The resumption applies to both the 3 and 5 Year Fixed Rental Rate (FRR) and Variable Rental Rate (VRR) GIS issued on January 24, 2024, following a suspension announced in a notice dated July 13, 2026.
According to information available from the Pakistan Stock Exchange (PSX), the instruments will now be tradable based on revised profit rates. For the 3 Year Variable Rental Rate, with a maturity date of January 24, 2027, the net profit rate applicable from July 24, 2026, until January 24, 2027, is set at 11.6879%. This represents a big move from the current net profit rate of 10.0780%. The 6-Month Weighted Average Yield for this instrument, as of July 22, 2026, is 11.5379%, with a spread of 15 basis points set during the auction on January 23, 2024.
The 5 Year Variable Rental Rate, maturing on January 24, 2029, will see its net profit rate increase to 11.8179% from the current rate of 10.2080%, marking a big move. This instrument shares the same 6-Month Weighted Average Yield of 11.5379% as the 3 Year VRR, but with a spread of 28 basis points from the same auction date.
The latest adjustments aim to align the profit rates with current market yields, providing updated returns for investors engaging with these Sukuk instruments.