Pakistan, April 22 -- The Pakistani government will issue its first-ever Green Sukuk to raise Rs52 billion for clean energy projects. The bonds will support three ongoing projects: Garuk Dam in Balochistan, Nai Gaj Dam in Sindh, and Shagarthang hydropower project in Skardu. The first round of bonds is expected to be worth Rs30 billion.

These Sukuk will follow a new Sustainable Investment Sukuk Framework approved by the cabinet. Officials said the bonds are asset-backed, allowing investors to fund real, measurable environmental and social projects. The Garuk Dam's cost has jumped to Rs28 billion, and the government needs Rs5 billion more to finish it.

Similarly, the Nai Gaj Dam, first launched in 2005, needs Rs22 billion more. The Shagar...