Karachi: The Pakistan Stock Exchange Limited (PSX) has released a revised auction calendar for the Government of Pakistan Hybrid Sukuk (GHS) and Government of Pakistan Ijarah Sukuk (GIS), set to take place from June 2026 through August 2026. This announcement was made in reference to PSX Notice# PSX/N-572 dated May 11, 2026, and follows guidance from the Debt Management Office (DMO) of the Ministry of Finance.
As per the revised schedule, the auctions for the GoP Hybrid Sukuk (GHS) and GoP Ijarah Sukuk (GIS) will be conducted in accordance with the updated targets set for each month. According to information available from the Pakistan Stock Exchange (PSX), the auction targets for the GHS include a total issuance of 1,600 billion Pakistani Rupees for the period from June to August 2026. The planned auctions are set for June 10, June 23, July 8, July 22, August 5, and August 19.
The GoP Hybrid Sukuk (GHS) auctions are divided into discounted and variable rental rate (VRR) categories, with specific tenor-wise targets set for 1-year and 10-year durations. Notably, each auction in June and July targets a 1-year issuance of 150 billion PKR and a 10-year issuance of either 100 or 200 billion PKR, depending on the date. The total target for the GHS is 800 billion PKR for each tenor over the specified period.
Additionally, the auction calendar includes the issuance of the GoP Ijarah Sukuk (GIS) with a fixed rental rate (FRR) and a fixed-rate zero coupon (FRZ) structure. Target auctions for the GIS are scheduled for June 17, July 2, and August 4, with each auction aiming to raise 150 billion PKR distributed equally across 3-year, 5-year, and 10-year tenors. The total target for the GIS is 450 billion PKR.
This revised auction calendar reflects the continued efforts by the Ministry of Finance to manage public debt effectively through the issuance of Islamic finance instruments. The PSX's role in facilitating these auctions underscores its importance as a platform for government securities trading, ensuring transparency and efficiency in the market.