Islamabad (Commerce Desk) — The Federal Ministry of Finance has decided to issue hybrid Sukuk bonds during the current fiscal year, through which the government will raise financial resources from the market.
According to sources in the Ministry of Finance, in addition to pledging assets, the government will also be able to obtain financing from the market by selling commodities. The government will hire third-party services for the commodity sale process.
Sources said that under hybrid Sukuk financing, commodities will be sold directly in the market. Hybrid Sukuk bonds will be issued for the first time during the current fiscal year, while details of the plan will also be shared with the international financial institution.
The Ministry of Finance has sought details of assets from the National Highway Authority for the issuance of Sukuk bonds. According to sources, the current value of NHA assets is estimated to be more than Rs7 trillion.
Sources said that during the previous fiscal year, the estimated value of NHA assets was around Rs5.5 trillion, while a decision on the issuance of Sukuk bonds will be made after determining the value of additional assets.