ISLAMABAD: In an unprecedented economic decision, PTI government launcheslargest ever financial instrument listing in PSX.
Pakistan Energy Sukuk-I (PES-I) issue of Rs200 billion got listed at thePakistan Stock Exchange (PSX) on Thursday. PES-I is the largestShariah-compliant financial instrument ever listed at a stock exchange inPakistan.
“The Sukuk was issued by Power Holding Limited (PHL), a company fully-ownedby the government. The PES-I, issued under the Pakistan Energy Sukuk Rules,2019, would provide liquidity to the energy sector and promote domesticSukuk market,” a statement issued by the Securities and Exchange Commissionof Pakistan read, Pakistan Today has reported.
SECP has been incessantly pursuing the government to list the public sectorSukuk at PSX’s Over Counter Market and in this regard, provided completefacilitation.
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As per the statement, a developed Sukuk market could bring a new class ofinvestors to Pakistan’s capital markets and could play an active role inthe country’s economic growth. “Listing of Sukuk provides investmentopportunities to those investors who are looking for Shariah-compliantinvestment avenues. PHL may issue a series of listed Sukuk under the rules.”
