70pc Sukuk over-subscription shows strong market confidence: PM
Imran Khan said the Rs18 billion savings could now be used for welfare of the people.
ISLAMABAD (Dunya News) – Prime Minister Imran Khan on Wednesday said over-subscription of Sukuk by 70% was reflective of a “strong market confidence in the government’s policies”.
“Landmark financial innovation with Rs 200 bln Sukuk issued through competitive book building at PSX,” the prime minster tweeted as the government for the first time borrowed long term at less than the Kibor, saving Rs 18 billion over 10 years on debt servicing.
Landmark financial innovation with Rs 200 bn Sukuk issued through competitive book building at PSX. Oversubscribed by 170%, reflecting a strong market confidence in our Govt s policies. As a result govt saved Rs18 billion - savings that can now be used for welfare of the people.
— Imran Khan (@ImranKhanPTI) May 20, 2020
Imran Khan said the Rs18 billion savings could now be used for welfare of the people.
