Karachi, The Pakistan Stock Exchange (PSX) has scheduled the ninth auction of Government of Pakistan Ijarah Sukuk (GIS) for May 23, 2024. This auction, conducted through the PSX Auction System, is open to Broker Clearing Members (BCMs), Non-Broker Clearing Members (NBCMs), and Professional Clearing Members (PCM) of the National Clearing Company of Pakistan Limited (NCCPL), catering to both proprietary accounts and managed funds.

According to information available from the Pakistan Stock Exchange (PSX), participants from the previous auction held on May 9, 2024, will utilize the same administrative setup for this upcoming event, maintaining their previously registered user details. The auction will feature five instruments, including 1-year fixed rate GIS, 3- and 5-year fixed and variable rental rate GIS, all of which were initially issued on May 10, 2024.

Participants are required to commit an advance of 10% of the instrument-wise amount and complete their registration and cash assignments by May 21, 2024. The detailed steps and requirements for participation have been outlined by PSX, including the submission of advanced committed cash through specific channels and registration for new participants to ensure a streamlined auction process.

The auction is part of the continuous efforts by PSX and NCCPL to facilitate efficient government debt securities trading, addressing both competitive and non-competitive bidding within the financial market infrastructure. Following the auction, the final collection of the settlement amount will occur on May 24, ensuring that all financial transactions are concluded promptly after the bidding process.