Karachi: The Pakistan Stock Exchange (PSX) is set to conduct the 27th auction of Government of Pakistan (GoP) Ijarah Sukuk, including the Green Sukuk auction, on Tuesday, October 14, 2025. The auction will be executed through the PSX Auction System, and all Broker Clearing Members (BCMs), Non-Broker Clearing Members (NBCMs), and Professional Clearing Members (PCMs) of the National Clearing Company of Pakistan Limited (NCCPL) are eligible to participate.
Participants are required to use their existing credentials from the previous auction held on September 29, 2025, for investor mapping, cash assignment, and bidding processes. Any amendments to the participants’ admin user details must be communicated to PSX/NCCPL via email. Importantly, BCM participants must provide a 10% Advance Committed Amount for each instrument and notify PSX/NCCPL accordingly.
The auction will feature six instruments, including 1-Year Fixed Rate GIS Discounted, 3-Year and 5-Year GIS-Fixed Rental Rate (FRR), 10-Year GIS-Fixed Rate Zero Coupon, and 5-Year and 10-Year GIS-Variable Rental Rate (VRR). The issuer for these instruments is the Pakistan Domestic Sukuk Company Limited (PDSCL) through the Ministry of Finance. The auction timings are set for 10:00 a.m. to 12:00 p.m. on October 14, 2025, with settlement occurring on October 15, 2025.
According to information available from the Pakistan Stock Exchange (PSX), the target amounts for the auction are PKR 100 billion for GIS-Discounted, PKR 25 billion each for 3-Year GIS-FRR, 10-Year GIS-FRZ, 5-Year GIS-VRR, and 10-Year GIS-VRR, and PKR 50 billion for 5-Year GIS-FRR. The minimum bid size is set at Rs.5,000, and there is no maximum amount for competitive bids.
Eligible investors include those with CDC Sub A/c or CDC IAS Account, Roshan Digital Account Holders (RDA) via CDC Investor Account Services, and new investors without a CDC Sub A/c can participate through CDC’s Facilitation Account service. BCMs, CDC IAS, and PCMs are required to submit advance cash a day before the auction, while NBCMs (Banks or DFIs) and NBCMs (Mutual Funds) have specific instructions for cash requirements.
The PSX, along with CDC and NCCPL, anticipates the cooperation of all participants to ensure the successful primary issuance of Sukuk through the capital market.