Is India Secular?

Without digging too deep into the history of Hindustan, it may be said very conveniently that the rulers have always been hiding their real face behind two strong veils i.e. democracy and secularism. Both these terms have been used to deceive the international community. If one probes the events taking place with the beginning of the division of the subcontinent into Pakistan and Hindustan and particularly over the last two decades, it becomes evident that democracy is a hoax and secularism is the name given to vandalism.
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Pakistan Ijara Sukuk: Rs 117.723 billion bids accepted

Pakistan Ijara Sukuk: Rs 117.723 billion bids accepted

 

In response to tender for the auction of Rs100 billion Government of Pakistan Ijara Sukuk, bids received amounted Rs273.3 billion but the State Bank of Pakistan accepted Bids worth Rs117.7 billion leaving ample liquidity in the market

 

Tender for Sale of 3-Year Government of Pakistan Ijara Sukuk was invited by the State Bank of Pakistan, Karachi through designated Primary Dealers (for Ijara Sukuk) on December 15, 2015. Bids were opened at 11:30 hours on December 15, 2013, which were received as follows:

                                                                                                              

                                                                                                                   (Rs. In Millions)

	Offered Amount (FACE VALUE)	RANGE OF MARGIN over Benchmark (bps)
03-Year Ijara Sukuk	273,303.00	-180.00 to +25.00
Total	273,303.00

 

Out of the above bids, the accepted bids are as under:

 

Maturity Period	Cut-Off Margin Over benchmark (bps)*	Accepted Amount (Face Value)
03 -Yr Ijara Sukuk	Minus 50.00	117,723.00
Total		117,723.00

* This cut-off margin will be applicable to all accepted bids.