Govt, Citibank discuss financing

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb, along with his team at the Finance Division, held a meeting with a delegation of Citibank led by Habib Yousuf, Citi Country Officer, Citibank, accompanied by Ali Sana Rizvi, Corporate Banking Head, and Usama Paracha, Vice President, Corporate Banking.

The meeting provided an opportunity to engage on sovereign financing solutions and review potential avenues for cooperation between the government and Citibank. The finance minister's core team at the Finance Division, overseeing debt management, capital markets and other relevant policy areas under discussion, was also present.

During the meeting, the finance ministry team shared a high-level assessment of prevailing market conditions and Pakistan's external financing outlook. The discussion covered recent developments in Pakistan's international bond performance and the government's approach towards external borrowing, with an emphasis on pricing considerations, market timing, and the need to ensure that any future transactions align with Pakistan's broader debt sustainability and cost objectives.

The finance ministry team briefed the Citibank delegation on ongoing work on sovereign funding programmes, including preparatory work on medium-term note structures, while noting that the immediate focus remains on concluding priority transactions currently under process. It was conveyed that relevant internal approvals and structural groundwork have been undertaken, and that engagement with the market would be considered at an appropriate time, subject to market conditions and pricing dynamics.

The discussion also covered investor engagement strategies, with the finance ministry emphasising the importance of active investor participation rather than passive flows. The ministry highlighted recent positive portfolio inflows and noted that sustained, targeted engagement with institutional investors remains a priority. It was conveyed that the government remains open to working with global financial institutions to support active investor outreach, including private placements and engagement with long-term investors, where appropriate.

The team outlined areas where Citibank's global capabilities could be leveraged more effectively, particularly in relation to structured programmes, documentation frameworks and market infrastructure. The importance of establishing foundational documentation and legal frameworks as a prerequisite for executing more complex financial transactions was emphasised.