In an effort to generate $250 million, Federal Finance Minister Muhammad Aurangzeb said that Pakistan’s first Panda Bond would be introduced to the Chinese financial market.

The finance minister stated in a Bloomberg interview that the money should become available in six to nine months.

The government’s larger plan to stabilize the economy and fulfill its foreign financial commitments includes the Panda Bond, a debt instrument denominated in renminbi. “This initiative reflects our focus on sustainable economic growth and strengthening the foundation of the economy,” said the minister.

Visit by an IMF delegation
Additionally, he declared that next month, a mission from the International Monetary Fund (IMF) would travel to Pakistan. Minister Aurangzeb expressed hope that the terms of the IMF rescue package will be met, especially the objective of raising the tax-to-GDP ratio from 10% to 10.3%.

He emphasized that meeting this standard will make Pakistan’s financial condition more sustainable. “The IMF wants Pakistan to broaden its tax base, and we are determined to achieve this target,” he said.

In addition, the minister emphasized how Pakistan’s economy has stabilized in contrast to the previous two years. He attributed this recovery to successful fiscal policies and forecasted a 3.5% economic growth rate for the current fiscal year.

Pakistan’s economic rating has already been raised by international credit rating agencies, and the government plans to move it up to a single B category soon. “An improved credit rating will enhance our ability to secure funds from the international bond market,” he said.

Put an emphasis on growth driven by exports.
The minister also emphasized the importance of prioritizing export-led growth in order to change the nation’s economic DNA. “We aim to build a sustainable economy based on exports, which is essential for long-term prosperity,” he stated.

“The economy of Pakistan is at a turning point. Finance Minister Muhammad Aurangzeb said, “We are dedicated to meeting our financial goals and creating a more robust, resilient economy.

According to Akamatsu Shuichi, the Japanese ambassador to Pakistan, the Japanese government would keep helping the people of Pakistan raise their standard of living.

He made this statement at the opening of two projects managing the Hana Development Council, a non-governmental organization dedicated to enhancing the area’s infrastructure and health, for the installation of electrical facilities in District Mandi Bahauddin.

Community leaders, members of the NGO Board, and officials from the Japanese Embassy attended the inaugural ceremony.

Eight towns received a grant of $42,818 in 2019 to provide sustainable energy facilities, while seven more communities in Mandi Bahauddin received a grant of $44,489 in 2022 to link.

According to the Japanese Ambassador, these initiatives have significantly improved thousands of people’s everyday lives.

According to him, it is about empowering people and enhancing lives, not only about putting up electricity networks and power lines.

Under its grant assistance program for grassroots human security projects, the Japanese government has contributed 92,307 dollars to two projects.

Sardar Ayaz Sadiq, Speaker of the National Assembly, has called tomorrow’s meeting of the Government and PTI Dialogue Committees.

For the third round of negotiations, the Dialogue Committees will meet in camera at Parliament House in Islamabad at 1:30 p.m.

In charge of the meeting will be the Speaker National Assembly.