Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh has said that for the first time, the government has raised Rs 200 billion through Sukuk at less than KIBOR rate through competitive book binding at Pakistan Stock Exchange.
In a tweet, he said the move saved Rs 18 billion over 10 years on debt servicing, adding that the transactions were oversubscribed by 70 percent. The adviser lauded the excellent team effort of Ministry of Finance Debt Office, Securities and Exchange Commission of Pakistan, State Bank of Pakistan and Pakistan Stock Exchange.
First time, Govt raised Rs 200 billion through Sukuk at less than KIBOR rate, through competitive book building at PSX, saving Rs 18 billion over 10 years on debt servicing. Transaction oversubscribed by 70%.
Excellent team effort of MOF Debt Office, SECP, SBP and PSX.— Dr. Abdul Hafeez Shaikh (@a_hafeezshaikh) May 19, 2020
