Government of Pakistan Raises Over PKR 760 Billion from Domestic Sukuk Market in 2020

The Government of Pakistan raised over PKR 760 billion from the domestic Sukuk market in 2020, with Islamic banks having sufficient liquidity to fill in the fiscal gap, according to local media reports.

The Government raised PKR 561 billion via the issuance of both variable and fixed rental Sukuk Ijarah in 2020. This included five fresh issuances of fixed-rate Sukuk Ijarah, four re-openings of existing variable-rate Sukuk, as well as three re-openings of fixed-rate Sukuk issuances in 2020. Meanwhile, PKR 200 billion was raised through the issuance of Pakistan Energy Sukuk II by the Ministry of Energy’s Power Holding Limited, bringing the total generated from statutory liquidity ratio-eligible Sukuk in the country to PKR 761 billion (USD 4.7 billion) in 2020, local media re...