Karachi: The Pakistan Stock Exchange (PSX) has scheduled the 29th auction of Government of Pakistan (GoP) Ijarah Sukuk (GIS), including the Green Sukuk auction, to be conducted on December 10, 2025. This auction provides an opportunity for Broker Clearing Members (BCMs), Non-Broker Clearing Members (NBCMs), and Professional Clearing Members (PCMs) of the National Clearing Company of Pakistan Limited (NCCPL) to participate for their proprietary accounts and funds under management.
According to the PSX notice dated December 3, 2025, the auction system for this event will remain consistent with the one used for the previous auction on November 13, 2025. Participants will use the same credentials for investor mapping, cash assignment, and bidding. Any amendments to the Participant Admin user details must be communicated to PSX/NCCPL. BCM participants are required to provide an instrument-wise 10% advance committed amount and inform PSX/NCCPL via email.
The auction, set to take place on December 10, 2025, from 10:00 a.m. to 12:00 p.m., will include five instruments: 1 Year Fixed Rate GIS Discounted, 3- and 5-Year GIS-Fixed Rental Rate (FRR), and 10 Year GIS-Fixed Rate Zero Coupon and Variable Rental Rate (VRR). The target amounts for these instruments range from PKR 25 billion to PKR 100 billion. The Pakistan Domestic Sukuk Company Limited (PDSCL), a subsidiary of the Ministry of Finance, will issue these instruments.
According to information available from the Pakistan Stock Exchange (PSX), the auction will allow both competitive and non-competitive bids. For non-competitive bids, the maximum limit per investor is the lower of 0.25% of the pre-auction target amount or PKR 500 million. Eligible investors include those with CDC Sub Accounts, Roshan Digital Account Holders, and new investors through the Facilitation Account service provided by CDC.
The instruments’ settlement will occur on December 11, 2025, and will be managed by the National Clearing Company of Pakistan Limited (NCCPL). The Sukuk will be listed on the PSX, and the auction will be conducted via the PSX Auction System link.
As the auction approaches, participants are encouraged to review the step-by-step procedures outlined in the PSX notice to ensure compliance and successful bid submission.