Islamabad: Prime Minister (PM) Imran Khan on Wednesday said that the 170% oversubscription in Sukuk recorded at the Pakistan Stock Exchange (PSX) was indicative of ‘strong market confidence’, according to news sources.
The premiere took to Twitter, and called the issuance of PKR 200 billion Sukuk issued via competitive book-building at PSX, a ‘landmark financial innovation’. He said that an oversubscription of 170% reflects strong market confidence in the government’s policies. He further revealed that the said development has led to the addition of PKR 18 billion in the national kitty – which will be used for COVID-19 relief attempts.
Previously, the PKR 200 billion Pakistan Energy Sukuk-II on Monday was reported to be high in demand at PSX – which were oversubscribed by 62.5% on the first day.
This is the second issue of the energy Sukuk bonds by the public-held Power Holding Limited (PHL) – which is owned by the energy ministry. The Energy Sukuk-I or worth was listed by PSX in October 2019.
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