- Aurangzeb praised China’s efforts to open its economy, the markets.
- Said Panda Bond to connect the capital markets of Pakistan to China.
- Reiterates Pakistan’s commitment to strengthen regional trade.
Federal Minister for Finance, Muhammad Aurangzeb, said Pakistan planned to launch its first Chinese Yuan Yuan obligation from $ 200 million to $ 250 million during this year of colony to finance climate -related projects.
In an interview with Bloomberg on the sidelines of the Boao forum in China, the Minister of Finance said that it was important for the country to diversify its funding bases beyond the United States, Europe and Islamic Sukuks.
He said the government is currently establishing a budget that widens the tax base including sectors such as real estate, retail and agriculture. Answering a question, the Minister said the government soon planned to make an announcement to reduce electricity prices.
Earlier this week, the Minister said that Islamabad was planning to issue Panda obligations to Yuan this year to access the vast and deep China capital market.
During his interview with Chinese media, including CGTN English and China Daily, the Minister of Finance said on Wednesday that Pakistan had previously issued bonds in US dollars and euros, and was the time to benefit from the Chinese capital market.
The Panda bond issue will connect the capital markets from Pakistan to China and reflect the important role of China in Pakistan’s digital transformation, he said and thanked China for its constant support, referring to Pakistan and China as “iron brothers” and strategic partners.
It is relevant to mention that the Minister visits China, to participate in the Boao forum for the annual conference in Asia 2025.
Aurangzeb praised China’s efforts to open its economy and markets, stressing the important role of companies and foreign companies in China exports.
He underlined Pakistan’s desire to become a hub for the transfer of facilities and services oriented towards exporting foreign companies, in particular Chinese.
The Minister also congratulated the construction of communication infrastructure, roads and ports in Pakistan as part of the CPEC project.
Aurangzeb underlined the need to promote the financial advantages of the infrastructure built in Pakistan and to allow Chinese industries to benefit from this infrastructure.
He reiterated Pakistan’s commitment to strengthen regional trade and road and rail links with neighboring countries.
The Chinese export sector and companies can benefit from the existing infrastructure in Pakistan and low-cost labor.
Aurangzeb has also studied Chinese banks and their digital transformation, stressing that Pakistan can learn from China’s experiences, in particular in improving financial inclusion through digital solutions.
The Minister also stressed the importance of bilateral cooperation in areas such as financial technology, agriculture, drone technology and other key sectors.
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