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Coalition govt approves issuing Sukuk bonds against 5 state owned assets including GT Road

06:44 PM | 21 Jun, 2022
Coalition govt approves issuing Sukuk bonds against 5 state owned assets including GT Road
Source: File photo

ISLAMABAD – The federal cabinet has allowed the pledging of the country’s major highways and buildings to raise billions from the Sukuk bond.

Prime Minister Shahbaz Sharif chaired a meeting of the federal cabinet where officials maintained that the custody of the underlying asset behind the Islamic bond would be given to the country’s central bank.

The Sukuk bonds are aimed to generate funds that would reduce the burden of local debt. The bonds will be backed by five state-owned properties including part of GT Road, Islamabad Express Highway, Sports Complex, and Makran Highway.

East Wharf and West Wharf in the port city will also be included among properties that will be placed as a guarantee for launching the Islamic bond.

Earlier this year, the ousted government raked $1 billion from Islamic Sukuk in the international market at 7.95% interest rate for a period of seven years.

Daily Pakistan Global Web Desk

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Today Currency Rates in Pakistan - Rupee to US Dollar, Euro, Pound, Dirham, Riyal - 21 July 2024

Pakistani currency rates against US Dollar and other currencies on July 21, 2024 (Sunday) in open market.

USD to PKR Rate Today

US dollar was being quoted at 279.15 for buying and 280.85 for selling. Euro's buying rate remains stable at 301.25 and selling rate is 303.25.

British Pound rate is 354.75 for buying, and 358.25 for selling. UAE Dirham AED was at 76.4 and Saudi Riyal lowered to 73.60.

Currency Rates Today

Currency Symbol Buying Selling
US Dollar USD 279.15 280.85
Euro EUR 301.35 303.25
UK Pound Sterling GBP 354.75 358.25 
U.A.E Dirham AED 76.40 77.15
Saudi Riyal SAR 73.60 74.32
Australian Dollar AUD 184.75 186.55
Bahrain Dinar BHD 741.15 749.15
Canadian Dollar CAD 203.50 205.50
China Yuan CNY 38.35 38.75
Danish Krone DKK 40.05 40.45
Hong Kong Dollar HKD 35.70 36.05
Indian Rupee INR 36.05 36.05
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 908.25 917.35
Malaysian Ringgit MYR 58.95 59.75
New Zealand Dollar NZD 169.24 171.24
Norwegians Krone NOK 26.04 26.34
Omani Riyal OMR 722.87 730.89
Qatari Riyal QAR 76.39 77.09
Singapore Dollar SGD 202.00 204.00
Swedish Korona SEK 26.40 26.70
Swiss Franc CHF 309.05 311.55
Thai Bhat THB 7.50 7.65

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