Karachi November 6 2024: The cut-off rental yields for 1Y GIS discounted came in at 10.999% in todays GoP Ijarah Sukuk conducted at PSX.
On Tuesday, the Monetary Policy Committee (MPC) of State Bank of Pakistan decided to cut the policy rate by 250 basis points to 15 percent, effective from November 5, 2024.
Primary Market Auction for the issuance of GoP Ijarah Sukuk (GIS) was conducted through PSX Auction System dated Nov 6, 2024 for 1Y GIS Discounted, 3Y, 5Y & 10Y GIS Fixed Rental Rate (FRR) and 3Y, 5Y & 10Y GIS Variable Rental Rate (VRR).
Government raised an amount of PKR 116 billion against target of PKR 100 billion through 1Y GIS Discounted Ijarah Sukuk at cut-off yield of 10.999%.
Government raised an amount of PKR 18.4 billion against target of PKR 100 billion through 3Y, 5Y & 10Y GIS Fixed Rental Rate (FRR) Ijarah Sukuk at cut-off yield of 11.5%, 12.1% and 11.7% for 3Y, 5Y and 10Y sukuks, respectively.
Government raised an amount of PKR 205.3 billion against target of PKR 100 billion through 3Y, 5Y & 10Y GIS Variable Rental Rate (VRR) Ijarah Sukuk at cut-off margin price of 100.79, 101.25 and 101.48 for 3Y, 5Y and 10Y sukuks, respectively.
