# National Grid Company plans Rs 100 billion sukuk on PSX, first Rs 20 billion tranche, up to 10 years

Source: Searchable (https://searchable.pk/news/markets/national-grid-company-plans-rs-100-billion-sukuk-on-psx-first-rs-20-billion)
Type: News article
Author: Searchable Editorial
Published: 30 Oct 2026
Updated: 30 Oct 2026
Retrieved: 31 Oct 2026

> The power transmission company wants to raise long-term money from the stock market in phases. Corporate debt issuance has already reached Rs 291 billion this year.

**The National Grid Company of Pakistan (NGC) plans to raise up to Rs 100 billion through a Shariah-compliant sukuk listed on the Pakistan Stock Exchange, starting with a first issue of up to Rs 20 billion.** The plan was presented on Friday to the Capital Market Development Council, chaired by Finance Minister Muhammad Aurangzeb, [ProPakistani reported](https://propakistani.pk/2026/10/30/govt-to-launch-rs-100-billion-psx-sukuk/).

## The sukuk in brief

- **Size:** up to Rs 100 billion in all
- **First tranche:** up to Rs 20 billion
- **Tenor:** up to 10 years
- **How:** public offerings listed on PSX, in phases
- **Condition:** subject to regulatory approval and market conditions

No profit rate, rating or offer date has been announced. Listed corporate sukuk are usually priced as a margin over KIBOR, so the [12-month KIBOR](/data/kibor-1y) is the number to watch when terms are set.

Aurangzeb welcomed the plan as a way to show that listed debt can work for large borrowers and to bring other companies to the market for long-term money instead of relying only on bank loans.

## Why it matters

Pakistan's corporate debt market has been growing from a small base, and a Rs 100 billion programme from one state-owned company would be among the largest listed issues. Figures shared with the council:

| Measure | Figure |
|---|---|
| Corporate debt issued, Jan to Sep 2026 | Rs 291 billion |
| Corporate debt issued, all of 2025 | Rs 326 billion (30% above 2024) |
| New listed debt issues, Feb 2025 to Sep 2026 | 12, worth Rs 45.4 billion |
| Average daily trading in debt, FY2025-26 | Rs 3.93 billion |
| Average daily trading, FY2026-27 to 15 Oct | over Rs 10 billion |
| Banks trading in the secondary market | 13 |

The SECP told the council it had consulted 17 pension fund managers and 44 insurance companies on why they hold so little corporate debt. Their answers covered a shortage of suitable products, thin secondary-market trading and disclosure by issuers. SECP and PSX have set up corporate debt desks and a one-window listing route, and work is under way to bring the Central Depository Company into it.

The minister also asked SECP and PSX to work on capital market financing for small and medium businesses and to re-engage with MSCI on Pakistan's possible return to Emerging Markets status.

## What it means for you

A listed sukuk can be bought through a stockbroker in the same account you use for shares, often in small amounts during a public offer. If you want a fixed-income comparison in the meantime, our [National Savings calculator](/tools/finance/national-savings-calculator) shows what the government's own schemes pay, and the [KSE-100 page](/data/kse-100) tracks the stock market.

We will add the profit rate and subscription dates when the prospectus is published.

## Frequently asked questions

**How big is the NGC sukuk?**

National Grid Company of Pakistan plans to raise up to Rs 100 billion, starting with a first issue of up to Rs 20 billion, with a tenor of up to 10 years, listed on PSX.

## Sources

- Govt to Launch Rs. 100 Billion PSX Sukuk (ProPakistani): https://propakistani.pk/2026/10/30/govt-to-launch-rs-100-billion-psx-sukuk/

How to cite: "National Grid Company plans Rs 100 billion sukuk on PSX, first Rs 20 billion tranche, up to 10 years", Searchable, 30 Oct 2026, https://searchable.pk/news/markets/national-grid-company-plans-rs-100-billion-sukuk-on-psx-first-rs-20-billion