Karachi: The Pakistan Stock Exchange Limited (PSX) has unveiled its auction calendar for the sale of Government of Pakistan (GoP) Ijarah Sukuk (GIS), scheduled from April to June 2025. This announcement follows previous notices, specifically PSX Notice# PSX/ N-224 and PSX Notice# PSX/ N-348, which addressed the postponement of the GIS auction initially planned for April 2025.

According to the detailed schedule, the PSX will conduct multiple auctions for the Sukuk, categorized under short-term, fixed rental rate, and variable rental rate tenors. The auctions will begin on April 30, 2025, with subsequent auctions planned for May 29, 2025, and June 25, 2025. Settlement dates follow each auction date by two days.

The short-term Sukuk auctions are designed to target a total of 100.00 billion PKR, with 40.00 billion PKR aimed for April, followed by 30.00 billion PKR each for May and June. Concerning the fixed rental rate Sukuk, the total target stands at 120.00 billion PKR, divided across the three months with 30.00 billion PKR targeted for April, 60.00 billion PKR for May, and 30.00 billion PKR for June.

For the variable rental rate Sukuk, the target auction size amounts to 90.00 billion PKR. The targeted amounts are evenly distributed across the months, with each month aiming for 30.00 billion PKR.

The auction notices and further pertinent details will be communicated to market participants ahead of each auction. According to information available from the Pakistan Stock Exchange (PSX), these auctions are part of a structured calendar aimed at facilitating the sale of GoP Ijarah Sukuk to potential investors.

Market participants are advised to prepare for these auctions, which are critical to ensuring smooth transactions and effective participation in the designated market category.