The Pakistan Stock Exchange (PSX) raised Rs76.286 billion for the Ministry of Finance in the 6th Auction of Government of Pakistan Hybrid Sukuk (GHS) on May 20, 2026, demonstrating strong investor interest in Shariah-compliant securities. Meezan Bank acted as Joint Financial Advisor, contributing to the Sukuk program’s success.

The auction received bids totaling Rs262.197 billion, with a realized value of Rs254.593 billion. The cut-off rate for the one-year fixed rate discounted Sukuk was set at 12.4880%, down by 1.32 basis points, while the 10-year Variable Rental Rate Sukuk had a cut-off rental rate of 11.8569%, a spread of 0.4884% over the reference rate of 11.3685%.

This underscores the growing role of Islamic finance in government debt mobilization and the increasing depth of Pakistan’s Sukuk market among institutional investors. The program enhances the investor base and provides alternative funding avenues, supported by collaboration among the Ministry of Finance, the State Bank of Pakistan, and PSX.

Market participants said the strong bidding response indicates continued demand for sovereign-backed Islamic instruments, especially at a time when banks, mutual funds, and other institutional investors are actively seeking compliant investment options with government credit exposure.