'Landmark financial innovation with Rs 200 bn Sukuk issued through competitive book building at PSX'
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.
The public sector entity owned by the Ministry of Energy issued Sukuk worth Rs200 billion through PSX to address liquidity constraints being faced by the power sector.
The finance ministry has invited financial institutions to submit their proposals to work as financial advisers, for the registration, structuring, and execution of the programme.
ISLAMABAD: Finance Minister Senator Mohammad Ishaq Dar on Thursday expressed satisfaction that Pakistan successfully issued US$ 1 billion sukuk on Wednesday night at a historic low rate of 5.5%. He claimed that this time Pakistan's sukuk is better than recent sovereign issuance of bonds by Bahrain and Sri Lanka, the credit ratings of which are higher than Pakistan. Sukuk is Islamic bonds, which is structured in such a way as to generate returns to investors without involving interest. The finance minister said Pakistan…
ISLAMABAD: Finance Minister Ishaq Dar said the government was determined to promote capital and Sukuk market and will support mercantile exchange for country's economic development.