Karachi: The Government of Pakistan Hybrid Sukuk (GHS) is set to commence trading on the secondary market at the Pakistan Stock Exchange (PSX) on Monday, July 27, 2026. This development follows the primary market auction conducted on July 22, 2026, with the settlement finalized on July 23, 2026. The GHS represents a significant financial instrument within the designated market category of fixed income securities.

The trading platform designated for the GHS is the Jade Trading Terminal (JTT), which is equipped with BnB capabilities. The GHS consists of multiple instruments, including the 3-Month, 6-Month, and 1-Year Fixed Rate Discounted GoP Hybrid Sukuk, along with a 10-Year Variable Rental Rate Sukuk. Each instrument has distinctive maturity dates ranging from October 15, 2026, to July 23, 2036.

According to information available from the Pakistan Stock Exchange (PSX), the cut-off yields for these instruments range from 11.4994% to 11.8400%, with the 10-Year Variable Rental Rate Sukuk offering a coupon rate of 11.3904% for the first period. The minimum and maximum buy/sell order quantities are set at Rs. 5,000 and Rs. 5.00 billion respectively, with a maximum order value capped at PKR 6.00 billion.

The listing date for the GHS is slated for July 27, 2026, with a face value set at Rs. 5,000, which must be transacted in multiples thereof. The National Clearing Company of Pakistan Limited (NCCPL) will oversee clearing, settlement, and risk management, while custody will be maintained by the Central Depository Company of Pakistan Limited (CDC).

For trading assistance in the secondary market, interested parties can contact PSX, NCCPL, and CDC through their respective channels. The introduction of the GHS on the secondary market marks a pivotal moment for investors seeking diversified financial instruments within Pakistan's debt market.