Panda Bonds: Pakistan seeks investors help

Aurangzeb briefs Chinese officials on reforms, IMF deal

ISLAMABAD:

Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, during a meeting with high-ranking officials from the Chinese institutions on Friday, briefed them about the government's reform agenda and engagement with the International Monetary Fund (IMF).

The finance minister and Minister for Power, Sardar Awais Ahmad Khan Leghari held meetings with Governor of People's Bank of China (PBoC), Pan Gongsheng and Vice Administrator National Energy Administration (NEA), Ren Jingong.

Additionally, the stabilization of the exchange rate and the bolstering of foreign exchange reserves were highlighted as key factors contributing to the economic upturn.

There was consensus was that such reforms are indispensable for achieving long-term stability and fostering sustainable economic growth.

Underlining Pakistan's plan to launch Panda Bonds, Minister for Finance briefed PBoC and other Financial Institutions about the steps taken so far and sought cooperation of the Chinese institutional investors in the capital market and seek benefit from the pro-business policies of the new Government.

It was highlighted that during the next phase of CPEC, focus is on strengthening B2B cooperation, with private sector playing the central role in the development and economic growth.

Meanwhile, in a meeting with Vice Administrator NEA, Minister for Power expressed government's conviction to introduce energy reforms aimed at enhancing efficiency of power sector by addressing systemic issues and cutting transmission losses. He appreciated NEA for signing the MoU on improving governance of the Power Sector and expressed resolve to fast-track implementation of the agreement.