ISLAMABAD, October 31, 2026 — National Grid Company of Pakistan Limited is planning to raise up to Rs100 billion through Islamic bonds, known as Sukuk, as part of efforts to secure long-term financing.
The proposed programme was discussed at a meeting of the Capital Market Development Council chaired by Finance Minister Muhammad Aurangzeb on October 30.
According to the Finance Division, the company plans an initial offering of up to Rs20 billion, with further issues potentially bringing the total to Rs100 billion.
The Sukuk could have a term of up to 10 years and would be offered to investors through the Pakistan Stock Exchange.
Sukuk are financing instruments structured to comply with Islamic financial principles. They allow organisations to raise money from investors without using conventional interest-based bonds.
The National Grid proposal comes as the government seeks to encourage more companies to raise financing through Pakistan’s capital markets.
The Finance Division reported that corporate debt issuance reached Rs291 billion during January–September 2026.
That followed Rs326 billion raised during the whole of 2025, which represented a 30% increase over the previous year.
Officials also discussed ways to make it easier for businesses to issue debt instruments and attract a wider range of investors.
For National Grid, the proposed programme could provide access to financing over a longer period rather than relying entirely on shorter-term borrowing.
Its launch, final size and timing will depend on the necessary approvals and market conditions.