The federal government raised Rs118.05 billion through the 32nd auction of Government of Pakistan Ijarah Sukuk.
According to the Pakistan Stock Exchange (PSX), the auction drew total bids worth Rs. 445.49 billion. This shows ample liquidity and sustained confidence in sovereign Sukuk.
Meezan Bank acted as the lead joint financial adviser and played a key role in structuring the transaction.
Despite the heavy participation, the government accepted a limited portion of bids and maintained a cautious pricing approach.
Short-term and medium-term papers saw solid demand. The one-year Sukuk was accepted at 11.4999 percent, while the five-year fixed rental paper cleared at 11.75 percent.
Interest was also seen in the 10-year variable rental Sukuk.
Market participants say Islamic liquidity remains strong, though investors are becoming more selective amid changing interest rate expectations.
