ISLAMABAD: Pakistan Sukuk ne aik bara record bana diya hai. Mulk ke sovereign Sukuk ka hajm Rs10 trillion se zyada ho gaya hai. Ye taqreeban $35.8 billion ke barabar hai. Wazir-e-Khazana Muhammad Aurangzeb ne ye elan jumeraat 12 November ko Islamabad mein aik taqreeb ke dauran kiya. Is taqreeb mein hukumat ne naye Sukuk bhi launch kiye.
Sirf 2026 mein Sukuk ki issuance Rs4.4 trillion tak pahunch gayi. Ye 2025 ke taqreeban Rs2 trillion se 113 faisad zyada hai. Pichle paanch saal mein is market ki compound annual growth taqreeban 22 faisad rahi hai. 2020 mein issuance sirf Rs761 billion thi.
Sukuk kya hai aur Wazir-e-Khazana ka elan
Pakistan Sukuk Hits Rs10 Trillion Milestone in Islamabad
Sukuk Shariah-compliant certificates hote hain, jin par sood nahi milta. Ye Islamic finance ka aik bara hissa hain. Pakistan mein ye zyada tar Ijarah structure ke tehat 2008 se issue kiye ja rahe hain. Ijarah mein investor kisi asaasay se kiraya ya munafa hasil karte hain, jo Shariah ke usoolon ke mutabiq hai.
Taqreeb se khitab karte hue Wazir-e-Khazana ne kaha ke Sukuk market mein ghair mulki sarmaya kari abhi bhi “underwhelming” hai. Yaani umeed se bohat kam hai. Unhon ne kaha ke Pakistan ko apne Sukuk bain-ul-aqwami investors ke saamne promote karne honge. Is se bahar se bhi paisa aaye.
Ghair mulki investors aur naye Sukuk
Dilchasp baat ye hai. Doosri taraf ghair mulki investors ne Treasury bills aur Pakistan Investment Bonds mein achi dilchaspi dikhai hai. In mein inflows positive rahe hain. Is se pata chalta hai ke bahar ke investors ko Pakistan mein dilchaspi to hai. Lekin Sukuk tak un ki rasai abhi kam hai.
Isi taqreeb mein hukumat ne naya hybrid government Sukuk aur short-term Sukuk bhi launch kiye. In ki muddat 3 se 6 mahine hai. Ye naye Sukuk Debt Management Office ne State Bank of Pakistan ke saath mil kar tayyar kiye hain. Is se investors ko zyada options milen.
State Bank ke Governor Jameel Ahmad ne taqreeb mein bataya. Islamic financing ab Pakistan ke banking sector ka 25 faisad hissa ban chuki hai. Ye aik bara number hai. Is se pata chalta hai ke mulk mein Shariah-compliant banking kitni tezi se barh rahi hai.
Is milestone ko manane ke liye Meezan Bank ne aik gathering host ki. Wahan banking ke logon ne is kamyabi par khushi ka izhar kiya. Meezan Bank Pakistan ka sab se bara Islamic bank hai. Sukuk market mein is ka kirdar kaafi ahem raha hai.
Aam logon aur hukumat ke liye faide
Aam logon ke liye sab se achi khabar ye hai ke Sukuk mein hissa lena ab bohat aasan hai. Sirf Rs5,000 se shirkat mumkin hai, is liye chhote investors bhi is market ka hissa ban sakte hain. Ab aik aam aadmi bhi apni bachat ko Islamic tareeqe se invest kar sakta hai.
Hukumat ke liye Sukuk aik ahem zariya hain, kyunke is se wo apni zaroorat ke liye paisa hasil karti hai. Jab hukumat ko paisa chahiye hota hai, to wo Sukuk issue karti hai, aur investors us mein paisa lagate hain. Is tareeqe se hukumat ko paisa mil jata hai aur investors ko munafa.
Aam aadmi ki rozana zindagi par is ka asar bhi parhta hai. Jab hukumat ki borrowing mehngi hoti hai, to bojh awam par aata hai, jaisa ke jab petrol price Pakistan mein barhti hai to har cheez mehngi ho jati hai. Is liye aik mazboot aur sasti borrowing market har shakhs ke liye achi khabar hai.
Ghair mulki investors ko attract karna aasan kaam nahi hai. Is ke liye zaroori hai ke Pakistan apne Sukuk ko duniya bhar ke financial centres mein pehchan dilaye. Investors ko ye bharosa de ke un ka paisa mehfooz rahe ga. Credit rating aur currency ki stability is mein bara kirdar ada karte hain.
Short-term Sukuk aur aane wala safar
Short-term Sukuk ka faida ye hai. Banks aur financial idare apne paisay ko chhoti muddat ke liye bhi Islamic tareeqe se invest kar sakte hain. Ab 3 se 6 mahine ke Sukuk se banks ko zyada flexibility mile gi.
Aane wale dinon mein sab ki nazrain is baat par hongi. Naye Sukuk ko investors ka kaisa response milta hai, ye ab dekha jayega. Agar ghair mulki investors ne dilchaspi dikhai, to ye Pakistan ki economy ke liye aik bara positive ishara hoga.
Rs10 trillion ka ye milestone sirf aik number nahi hai. Ye is baat ki nishani hai ke Pakistan ki Islamic finance market ab aik mazboot bunyaad par khari hai. Aage ka safar is par munhasir hai ke hukumat is momentum ko kaise barqarar rakhti hai.
Source: Arab News PK