Govt raises Rs196bn in Hybrid Sukuk auction

The Government of Pakistan secured Rs196.196bn in face value from the 3-year and 5-year Fixed Rental Rate Hybrid Sukuk auction held on November 05, 2026, according to Mettis Global. Competitive bids accounted for Rs195.225bn, while another Rs0.971bn was accepted through non-competitive offers. The 3-year papers contributed Rs135.586bn overall and the 5-year papers Rs60.610bn.

Demand for the two tenors totalled Rs382.55bn, comprising Rs244.5bn of bids for the 3-year issue and Rs138.05bn for the 5-year issue. Cut-off yields on accepted competitive bids were 12.6407% and 12.7500%, respectively. Separately, the government accepted no bids for a new 10-year zero-coupon Ijarah Sukuk: investors submitted Rs1.840bn in bids, but the instrument raised no funds.