Pakistan’s New International Sukuk Issuance to be as Early as October 2021

Pakistan proposes to issue up to USD 1.5 billion of international Sukuk in October 2021, to strengthen the finances of the country during the COVID-19 pandemic.

Why it Matters?

Pakistan government officials stated that the Sukuk worth between USD 1 billion to USD 1.5 billion are to be raised, pledging asset-backed guarantees of two international airports (Lahore and Islamabad) and certain parts of motorways in the country. The Ministry of Finance of Pakistan had budgeted the raising of a total of USD 3.5 billion through international bonds. Out of the budgeted amount, July 2021 saw the launch of Bonds for USD 1 billion followed by the current proposed Sukuk issuance to raise USD 1 billion to USD 1.5 billion in October or early November 2021. Officials confi...