The government through the Ministry of Finance raised Rs. 202 billion against an initial target of Rs. 250 billion for the 13th auction of a GOP Ijarah Sukuk (GIS) at the Pakistan Stock Exchange (PSX) on September 16, 2024.
In total, bids received amounted to Rs. 691.25 billion.
The Fixed Rate Discounted 1-year rate clocked in at 15 percent, showing a decrease of 99 basis points.
For the Fixed Rental Rate (FRR), the 3-year cut-off rate stands at 13.89 percent, reflecting a reduction of 111.17 basis points. The 5-year FRR cut-off rate is now 13.8450 percent, down by 53.50 basis points. Additionally, the 10-year FRR, introduced as a new issue, came in at 13.0422 percent.
Under the Variable Rental Rate category, the reference rate is 17.6183 percent. The 3-year VRR rate clocked 17.3183 percent. The 5-year VRR was 17.4883 percent, reflecting a 0.13 percent cut. The 10-year VRR matches the reference rate at 17.6183 percent and is also a new issue.
The post Govt Raises Rs. 202 Billion in 13th Sukuk Auction At PSX appeared first on ProPakistani.
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