National Grid Company plans Rs100 billion Sukuk through PSX
The National Grid Company of Pakistan Limited plans to raise up to Rs100 billion through Shariah-compliant Sukuk. The first issuance would be up to Rs20 billion with a tenor of up to 10 years.
For information only, not investment advice. Prices change quickly: check the time and source of every figure.
- NGC plans Sukuk of up to Rs100 billion, in phases via PSX
- First tranche of up to Rs20 billion, tenor up to 10 years
- Corporate debt issuance reached Rs291 billion in January-September 2026
The National Grid Company of Pakistan Limited (NGC) plans to raise up to Rs100 billion through Shariah-compliant Sukuk listed on the Pakistan Stock Exchange (PSX). The initial issuance would be up to Rs20 billion.
The proposed programme has a tenor of up to 10 years. It would be launched in phases through public offerings, subject to regulatory approvals and market conditions.
The plan was discussed at the fourth meeting of the Capital Market Development Council, chaired by Finance Minister Muhammad Aurangzeb at the Finance Division on Friday. The finance minister welcomed the proposed issuance.
The meeting also reviewed the state of the corporate debt market. Corporate debt issuances reached Rs291 billion during January-September 2026. In 2025, Rs326 billion was raised, 30 percent more than in 2024.
Between February 2025 and September 2026, the market saw 12 new listed corporate debt issuances worth Rs45.4 billion. Average daily traded value in the debt market rose from Rs3.93 billion in FY2025-26 to more than Rs10 billion in FY2026-27 as of October 15, 2026.
Thirteen banks have joined secondary-market trading arrangements. The Securities and Exchange Commission of Pakistan (SECP) consulted 17 pension fund managers and 44 insurance companies on barriers to investing in corporate debt. SECP and PSX have set up Corporate Debt Market Desks, and a one-window listing mechanism is operating.
The council reviewed reforms on taxation, debt issuance, market infrastructure, investor protection and enforcement, as well as simpler listing and promotion of green and thematic Sukuk. The minister asked SECP to work with PSX and other platforms on financing for SMEs, and urged both to renew engagement with MSCI over a possible reclassification of Pakistan to Emerging Markets status.
Why it matters
Funds raised by the national grid company bear on power sector finances and future electricity costs in Pakistan. The wider corporate debt push also concerns companies and investors using the capital market.
