The federal government raised Rs. 118.05 billion through the 32nd auction of the Government of Pakistan Ijarah Sukuk.
According to the Pakistan Stock Exchange (PSX), the auction received bids worth Rs. 445.49 billion, indicating strong liquidity and continued investor interest in sovereign Sukuk.
Meezan Bank served as the lead joint financial adviser and played an important role in structuring the transaction.
Despite high participation, the government accepted only a portion of the bids and followed a cautious pricing strategy.
There was strong demand for both short-term and medium-term instruments. The one-year Sukuk was accepted at a return of 11.4999 percent, while the five-year fixed rental Sukuk was accepted at 11.75 percent.
Investors also showed interest in the 10-year variable rental Sukuk.
Market analysts say that Islamic liquidity remains strong, although investors are becoming more selective due to changing expectations around interest rates.
