ISLAMABAD: National Grid Company of Pakistan Limited plans to issue Shariah-compliant Sukuk worth up to Rs100 billion to raise long-term financing, with its inaugural issuance expected to amount to Rs20 billion and carry a 10-year maturity.
Thank you for reading this post, don't forget to subscribe!The proposed Sukuk programme was discussed during the fourth meeting of the Capital Market Development Council, chaired by Finance Minister Muhammad Aurangzeb on Friday.
The meeting reviewed progress on capital market reforms, focusing on strengthening Pakistan’s corporate debt market, broadening the issuer and investor base, improving market infrastructure and facilitating access to long-term financing.
According to the proposal, the Sukuk will be issued in multiple tranches through public offerings on the Pakistan Stock Exchange (PSX), subject to regulatory approvals and prevailing market conditions.
The finance minister described the initiative as an important opportunity to demonstrate the potential of listed corporate debt instruments and encourage other public and private sector entities to explore similar financing options.
The council was informed that corporate debt issuances reached Rs291 billion during January-September 2026, following Rs326 billion raised during 2025. The amount represented a 30 per cent increase compared with 2024.
The market also recorded 12 new listed corporate debt issuances worth Rs45.4 billion between February 2025 and September 2026, reflecting increased activity in Sukuk and other debt instruments.
The council emphasised the need to promote more public offerings and enable a broader range of businesses to access capital market financing, supporting the development of a deeper and more diversified corporate debt market in Pakistan.
