Abdul Hafeez Shaikh says govt raised Rs200b through Sukuk

ISLAMABAD: Adviser to PM on Finance Dr. Abdul Hafeez Shaikh on Wednesday said that the government has raised 200 billion rupees through Sukuk at less than KIBOR rate through competitive book binding at Pakistan Stock Exchange.

In a tweet, he said the move saved 18 billion rupees over 10 years on debt servicing adding that the transactions were oversubscribed by 70 percent.

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

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.