Power Holding Limited (PHL) has announced plans to move forward with the first release of Skokuk Certificate, Pakistan Energy Skuk-I (PESC-I) and Pakistan Energy Civic II (PESC-II) according to its Shariah, which costs a overall RS. 399.97 billion.
In a meeting hero on September 24, 2025, the company’s board of directors allowed the initial getting rid of both the Sikuk cases, which are scheduled for getting rid of them before maturity.
Two Squoc, PESC-I and PESC-II, were picked up in 2019 and 2020, respectively, in which Gizan Bank Limited served as a trustee and investment agent for both matters. Earlier, the issuance of Sukuk, PESC -1, RS. 200 billion, while PESC-II RS. 199.97 billion. The two Squoks were formed under the terms of the contract, including a trust deed, master facility agreement, and lease agreement.
The first relief of this Sukki has been requested under the rules of Pakistan Energy Sukuk, Rule 5 of 2019, in which the government amended June 2025. How this move is controversial as well as approval from the required majority of certification holders through an extraordinary resolution, as well as obtaining all necessary regulatory approval.
The company’s board pledged that, under the necessary approval, the Power Holding Limited and the Gizan Bank would have a consensus on the date of the first release of Sukuk. RS, RS on the unanimous date. Full residual principal of rupee. 200 billion and RS under PESC-I. Under the PESC-II, 199.97 billion, with any accumulated profit or rent, will be released, which will be subject to the applicable zakat AT and tax deductions.
Further, the company has been given the authority to issue a notice of intent to get rid of Sikuk before its relevant maturity. Mr Mahfoz Ahmed Bhatti, CEO or PHL, and Mr Faraz Qadri, CFO or PHL, have been given the option to finalize the terms with the authorized bank and implement the necessary documents to enforce the initial release.
They are also used to ensure all legal and regulatory rituals, including obtaining necessary approval from the Pakistan Stock Exchange (PSX) and other relevant authorities.