Karachi: The Pakistan Stock Exchange Limited (PSX) has released details of the upcoming auction calendar for the Government of Pakistan (GoP) Ijarah Sukuk (GIS), as advised by the Debt Management Office (DMO) of the Ministry of Finance. The auction, which is set to take place over a period from November 2025 to January 2026, will involve various tenors and types of Sukuk, with a total target auction size of PKR 750 billion.

According to the auction schedule, the Short Term Sukuk - GIS - Discounted will be offered on November 26, 2025, December 10, 2025, and January 7, 2026, each with a target size of PKR 100 billion, resulting in a total of PKR 300 billion for this category.

The GIS - Fixed Rental Rate will be auctioned on the same dates with a distribution across three, five, and ten-year tenors. Each auction aims to raise PKR 100 billion, totaling PKR 300 billion over the period. Notably, the ten-year GIS-Fixed Rental Rate will be issued as a Zero-Coupon instrument.

In addition, the GIS - Variable Rental Rate will focus on the ten-year tenor exclusively, with each of the three scheduled auctions targeting PKR 50 billion, culminating in a total of PKR 150 billion. The five-year GIS-Variable Rental Rate will be discontinued starting from November 2025, as per the announcement.

According to information available from the Pakistan Stock Exchange (PSX), these auctions are part of a broader strategy to meet the government's financial needs through Shariah-compliant instruments. The structured approach aims to provide investors with diverse options in terms of investment horizons and rental rate structures.

Market participants are advised that auction notices and other relevant details will be provided ahead of each auction date. The PSX remains committed to ensuring transparency and accessibility in the auction process for all stakeholders in the financial market.