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January 15, 2021
KARACHI: The government on Thursday raised Rs75.439 billion through the auction of five-year fixed and variable rental rates Government of Pakistan Ijara Sukuk, in a bid to help finance the budget deficit.
The government raised Rs67.189 billion via the auction of Ijara Sukuk (variable), while the amount realised through fixed rental rate Sukuk was Rs8.250 billion, according to the central bankâs auction result.
The cut off fixed rental rate was 9.45 percent.
Last month, the State Bank of Pakistan issued the auction calendar for issuance of Sukuk based on Ijara for five years.
Pre-auction target for variable and fixed rental rate Sukuks during January-March 2021 set at Rs150 billion.