Karachi: The Government of Pakistan has appointed the Pakistan Stock Exchange (PSX), the National Clearing Company of Pakistan Limited (NCCPL), and the Central Depository Company (CDC) to facilitate the issuance of the 17th GOP Ijarah Sukuk (GIS) through an auction mechanism. Scheduled for January 8, 2025, the auction will allow interested participants to invest with a minimum bid of Rs. 5,000.

According to JS Global, the auction will offer various GIS instruments, including a 1-year fixed-rate discounted GIS, and 3, 5, and 10-year fixed and variable rental rate GIS. Investors can place bids through the PSX's online auction portal, with the settlement date set for January 9, 2025. Eligible participants include existing investors with a CDC sub-account and new investors using the CDC's Facilitation Account service. Margin requirements for participation mandate a 100% pre-funded deposit before bidding.