Karachi: The Pakistan Stock Exchange (PSX) has announced the inaugural auction of the Government of Pakistan (GoP) Hybrid Sukuk, set for Wednesday, April 15, 2026. This financial instrument, blending Ijarah Sale & Lease Back (Ijarah SLB) and Commodity Murabaha transactions, marks a significant initiative to diversify funding sources.

The auction, as detailed in PSX Notice# PSX/N-405, will be managed through the PSX Auction System. Structured to allocate 55% of its proceeds to Ijarah SLB and 45% to Commodity Murabaha, the Hybrid Sukuk aims to attract diverse market participants, including Broker Clearing Members (BCMs), Non-Broker Clearing Members (NBCMs), and Professional Clearing Members (PCM) of the National Clearing Company of Pakistan Limited (NCCPL).

According to information available from the Pakistan Stock Exchange (PSX), all participants will utilize their existing credentials from the 32nd GIS auction held on March 25, 2026. Participants must submit a 10% advance committed amount for their selected instruments and communicate their intent to participate via the designated emails by April 13, 2026.

The Pakistan Domestic Sukuk Company Limited (PDSCL), through the Ministry of Finance, is the issuer of this Sukuk. It includes a one-year fixed-rate GHS discounted instrument and a ten-year variable rental rate GHS, with target amounts set at PKR 150 billion and PKR 50 billion, respectively. Eligible investors include those with CDC Sub or IAS Accounts and Roshan Digital Account Holders. The auction will cater to both competitive and non-competitive bids, with the latter capped at 0.25% of the pre-auction target or Rs.500 million, whichever is lower.

Participants are required to deposit advance cash through the NCSS terminal by April 14, 2026, to ensure their eligibility for the bidding session. The final collection of settlement amounts will occur on April 16, 2026, completing the auction process.