Karachi: The Pakistan Stock Exchange (PSX) will facilitate the 11th Government of Pakistan (GoP) Hybrid Sukuk (GHS) auction scheduled for Wednesday, July 8, 2026. The auction is part of the PSX's Revised Auction Calendar, as detailed in Notice# PSX/N-693, dated June 8, 2026. This auction will be executed through the PSX Auction System.

According to information available from the Pakistan Stock Exchange (PSX), the Hybrid Sukuk structure combines an Ijarah Sale & Lease Back (Ijarah SLB) transaction and a Commodity Murabaha transaction. Of the total proceeds, 55% will be allocated to Ijarah SLB and 45% to Commodity Murabaha. The operational modalities will remain consistent with those of the Government of Pakistan Ijarah Sukuk (GIS) auctions.

Eligible participants for the auction include all Broker Clearing Members (BCMs), Non-Broker Clearing Members (NBCMs), and Professional Clearing Members (PCM) of the National Clearing Company of Pakistan Limited (NCCPL). These entities can participate for their proprietary accounts, investors, and funds under management.

Participants are expected to use their existing credentials, including User ID, Password, and PIN Code, for the upcoming auction, consistent with the previous auction practices for investor mapping, cash assignment, and bidding. Any necessary amendments to the Participants' Admin user details should be communicated to PSX/NCCPL via the designated email addresses.

Participants eligible for advance amounts as per NCCPL regulations must provide an instrument-wise 10% Advance Committed Amount. This information should be relayed to PSX/NCCPL through specified emails, with the subject line clearly indicating "Primary Market Auction Setup."

Registered investors from the last auction will remain within the auction system, requiring participants only to map the instruments and assign cash where necessary. Verification of instruments mapping is advised before the auction via the Bid Screen after logging into Front Office Terminals.

For new investor registration, participants are required to provide accurate UIN, CDC Participants ID, and CDC Sub Account No./CDC Investor A/c No. If an investor does not maintain a CDC Sub Account/CDC Investor Account, participants must input "ZEROs (00000)" in the Participant ID field and leave the CDC Sub Account/CDC Investor Account field blank.

Professional Clearing Members (PCM) may register their Trading-Only (TO) brokers in the PSX Auction System as investors, ensuring clear identification of the respective broker code or broker name along with the investor name, or alternatively use multiple IDs on behalf of their TO brokers.