Karachi: The Pakistan Stock Exchange (PSX) has informed market participants of the upcoming 16th Government of Pakistan (GoP) Hybrid Sukuk (GHS) auction scheduled for Wednesday, September 2, 2026. The auction will be conducted through the PSX Auction System, involving a combination of Ijarah Sale & Lease Back (Ijarah SLB) and Commodity Murabaha transactions.

According to the PSX's announcement, the auction's proceeds will allocate 55% to Ijarah SLB and 45% to Commodity Murabaha. This auction follows the PSX Notice# PSX/N-989 issued on August 10, 2026, which outlined the revised auction calendar for GoP Hybrid Sukuk and GoP Ijarah Sukuk (GIS).

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

A Non-Uniform Pricing (Multiple Prices/Pay-as-Bid) allocation mechanism will be employed for all Sukuk instruments. Competitive bidders will receive allocation based on their respective bid prices, while non-competitive bidders will be allocated based on the weighted average yield.

According to information available from the Pakistan Stock Exchange (PSX), all participants are required to use the same credentials as in the previous auction for investor mapping, cash assignment, and bidding. In case of any changes to the Participants' Admin user details, updated information must be provided to PSX/NCCPL via email.

Participants eligible for an advance amount per NCCPL regulations must commit a 10% advance for each instrument and inform PSX/NCCPL accordingly. The auction system's integration with the Central Depository System (CDS) facilitates validation of investor information, ensuring seamless registration and participation.

The designated market category for this auction falls within the primary market, with all operational modalities consistent for both GHS and GIS auctions. Participants are reminded of the detailed procedures for auction participation, which include communication of interest, registration, mapping of instruments, and cash assignment.

The Pakistan Stock Exchange emphasizes adherence to the outlined procedures to ensure a smooth and efficient auction process.