ISLAMABAD: The government on Wednesday announced the launch of its first Green Sukuk to raise more than Rs50 billion in two phases to meet financing needs of a few hydropower projects under the Sustainable Investment Sukuk Framework (SISW) approved by the federal cabinet last month.

Pakistan’s first Green Sukuk worth Rs6.5bn was launched by the Water and Power Development Authority (Wapda) four years ago to fund an additional hydropower unit at Tarbela dam.

“The inaugural issuance, ranging between Rs20bn and Rs30bn, will be conducted through an auction process, with the Pakistan Stock Exchange (PSX) playing a central........

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