The Pakistan Stock Exchange (PSX) has announced that the 11th primary market auction of the Government of Pakistan Hybrid Sukuk (GHS) will be held on Wednesday, July 8, 2026, with a combined fundraising target of Rs250 billion.

Issued by the Pakistan Domestic Sukuk Company Limited (PDSCL) on behalf of the Ministry of Finance, the auction will offer two Shariah-compliant investment instruments. These include a 1-year Fixed Rate Discounted Sukuk (Fresh Issue) with a target size of Rs150 billion, and the 6th re-opening of the 10-year Variable Rental Rate Sukuk, targeting Rs100 billion.

The Hybrid Sukuk is structured under a Shariah-compliant blended model, with 55% of the proceeds allocated to an Ijarah Sale & Lease Back arrangement and the remaining 45% invested through a Commodity Murabaha structure.

The bidding session will be conducted electronically through the PSX Auction System from 10:00 a.m. to 12:00 p.m. on July 8, while settlement of successful bids is scheduled for July 9, 2026.

The 1-year Sukuk, carrying the code P01GHS080727, has a tenor of 364 days and will mature on July 8, 2027. Meanwhile, the 10-year Variable Rental Rate Sukuk, under code P10VRR160436, was originally issued in April 2026 and will mature on April 16, 2036.

For the 10-year Sukuk, the benchmark rental rate has been set at 11.3685%, with an additional 35 basis points spread. Successful investors will also be required to pay an upfront price premium of Rs134.843 per Rs5,000 face value.

The auction is open to a broad range of investors, including financial institutions, corporate entities, trusts, individual investors, and overseas Pakistanis investing through Roshan Digital Accounts (RDA).

According to the PSX, the Sukuk qualifies as a 100% Statutory Liquidity Ratio (SLR)-eligible instrument, making it an attractive investment option for eligible financial institutions. The auction will be conducted through the National Clearing Company of Pakistan Limited (NCCPL), which will act as the paying agent and facilitate settlement.

The issuance forms part of the government's strategy to diversify its domestic borrowing programme while expanding the availability of Shariah-compliant investment instruments for both institutional and retail investors.