Islamabad, 13 May, 2025: Pakistan is set to start its first Green Sukuk issuance, amounting to Rs 30 billion, under the Sustainable Investment Sukuk (SI Sukuk) Outline. The sale will take place on Friday, May 16, through the Pakistan Stock Exchange (PSX) auction system.
This marks a landmark in sustainable finance for the country. The govt officially approved the issuance of the Green Sukuk.
According to PSX statement, all Broker Clearing Members (BCMs), Non-Broker Clearance Members (NBCMs) and Qualified Clearing Member (PCM) of National Clearing Company of Pakistan Limited (NCCPL) are eligible to participate in the Auction for their registered accounts, investors and funds under their association.
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The auction will be lead as per the auction mechanism currently in place at PSX for issuance of GoP Ijarah Sukuk (GIS).
Participants will use their existing authorizations for the auction, with a requirement for BCM participants to provide a 10% advance committed amount.
The Ministry of Finance, in partnership with the Debt Management Office (DMO), the Securities and Exchange Commission of Pakistan (SECP), and the Pakistan Stock Exchange, is leading the issuance process.
The Cabinet Division already granted its approval on April 15, 2025, with the issuance being led by the Ministry of Finance (MoF).
Therefore, the Ministry of Finance (MoF), Debt Management Office (DMO) in partnership with Securities & Exchange Commission of Pakistan (SECP) and Pakistan Stock Exchange Limited (PSX), last week announced the inaugural issuance of Green Sukuk.
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These may include renewable energy projects, green infrastructure, and other creativities approved by the Project Evaluation and Selection Committee based on their environmental benefits.
Structured in full compliance with Shariah principles, the Green Sukuk aims to raise funds for projects that support environmentally friendly sustainability, including renewable energy initiatives and green infrastructure development.
