Karachi: The Pakistan Stock Exchange (PSX) has released a revised auction calendar for the Government of Pakistan's Hybrid Sukuk (GHS) and Ijarah Sukuk (GIS), following directives from the Debt Management Office of the Ministry of Finance. This update, initially communicated through PSX Notice# PSX/N-885 dated July 15, 2026, provides a detailed schedule for auctions occurring from August through October 2026.

According to the revised calendar, the PSX will conduct multiple auctions for the issuance of GHS and GIS. The auctions will feature discounted and variable rental rates for GHS, with a comprehensive target auction size of 1.375 trillion PKR over several dates. The auction dates are set for August 19, September 2, September 16, September 30, October 14, and October 28, 2026. Each of these auctions is aimed at raising between 125 billion PKR and 325 billion PKR, with varying maturities ranging from three months to ten years.

Additionally, fixed rental rates for both the GHS and the fixed rate zero coupon GIS will be auctioned. According to information available from the Pakistan Stock Exchange (PSX), these auctions will take place on September 18 and October 7, 2026, with a target auction size of 300 billion PKR, covering three-year, five-year, and ten-year maturities.

The revised auction targets reflect the government's strategy to manage its debt issuance effectively. Market participants are advised to take note of these updates for their investment planning and participation in the upcoming auctions.