Govt raises Rs173 billion through Ijarah, hybrid Sukuk auction

The Government of Pakistan raised Rs173.16 billion through the auction of Ijarah Sukuk and hybrid Sukuk on July 2, 2026, against a combined target of Rs150 billion, according to data compiled by Arif Habib Limited from PSX.

Total bids received stood at Rs758.82 billion, showing strong investor participation across the three instruments.

The government raised Rs148.16 billion through two fixed rental rate GOP hybrid Sukuk instruments against a combined target of Rs100 billion.

For the 3-year fixed rental rate GOP hybrid Sukuk, the government received bids worth Rs314.38 billion and raised Rs70.18 billion against a target of Rs50 billion.

Of the amount raised through the 3-year instrument, Rs69.72 billion came through competitive bids and Rs0.46 billion through non-competitive bids.

The cut-off rental for the 3-year hybrid Sukuk was set at 11.40%, while the cut-off price stood at 101.70.

For the 5-year fixed rental rate GOP hybrid Sukuk, bids stood at Rs269.45 billion, and the government raised Rs77.98 billion against a target of Rs50 billion.

The amount included Rs77.85 billion raised through competitive bids and Rs0.13 billion through non-competitive bids.

The cut-off rental for the 5-year hybrid Sukuk was set at 11.58%, while the cut-off price was 101.87.

Under the Ijarah Sukuk segment, the government raised Rs25 billion through the 10-year fixed rate zero coupon GOP Ijarah Sukuk against a target of Rs50 billion.

Bids received for the 10-year Ijarah Sukuk stood at Rs175 billion. The entire Rs25 billion raised came through competitive bids, with no amount raised through non-competitive bids.

The cut-off rental for the 10-year Ijarah Sukuk was set at 12.15%, while the cut-off price stood at 33.46.

Overall, the government raised Rs172.56 billion through competitive bids and Rs0.59 billion through non-competitive bids in the auction.