Karachi: The Pakistan Stock Exchange (PSX) conducted a primary market auction on August 20, 2025, for the issuance of Government of Pakistan (GoP) Ijarah Sukuk, with various tenors ranging from one-year discounted to ten-year zero coupon bonds, according to the official auction results.

The auction, which targeted a pre-auction amount of 50 billion Pakistani Rupees, received bids across multiple categories, including the 1-Year Discounted Ijarah Sukuk, 3-Year and 5-Year Fixed Rental Rate (FRR) Ijarah Sukuk, and the 10-Year Zero Coupon Ijarah Sukuk. The auction results revealed detailed acceptances for both competitive and non-competitive bids across these tenors.

For the 1-Year Discounted Ijarah Sukuk, the total face value of bids accepted amounted to 67,117.10 million with a total realized amount of 60,782.72 million. The category saw a big move in its price changes during the auction.

In the segment for 3-Year and 5-Year Fixed Rental Rate Sukuk, the accepted bids had a total face value of 58,600.16 million, with the realized amount reaching 61,777.84 million. This segment experienced a moderate move in its price range.

The 10-Year Zero Coupon Sukuk saw a total face value of 77,395.63 million with a realized amount of 25,137.64 million. The price adjustments in this category were characterized by a big move.

According to information available from the Pakistan Stock Exchange (PSX), the auction process utilized the PSX Auction System, and the settlement date for the transactions was set for August 21, 2025. The auction involved the third re-opening for the 3-Year and 5-Year FRR Sukuk issued on May 30, 2025, and the first re-opening for the 10-Year Zero Coupon Sukuk issued on July 24, 2025.

The Government of Pakistan Ijarah Sukuk serves as a key instrument in the financial market category, providing fixed-income opportunities with varying maturity periods. The auction’s results highlight the market’s demand and investor confidence in government-backed securities.