Govt launching Panda Bond in Chinese market: Aurangzeb

By APP
October 27, 2024
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb is interviewed during the G20 Finance Ministers and Central Bank Governors Meeting at the IMF and World Banks 2024 annual Spring Meetings in Washington, US. — Reuters/File
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb is interviewed during the G20 Finance Ministers and Central Bank Governors' Meeting at the IMF and World Bank's 2024 annual Spring Meetings in Washington, US. — Reuters/File

ISLAMABAD: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb said on Saturday that government was aiming to launch an inaugural Panda bond in the Chinese market to diversify its financing base.

He was talking to China’s Vice Minister of Finance, Liao Min during a meeting on the sidelines of World Bank Group (WBG) and International Monetary Fund (IMF) annual meetings in Washington, according to press release issued by finance ministry.

He requested the Chinese side to raise the limits under the Currency Swap Agreement to CNY 40 billion.

Both sides emphasized the need for online payment settlements and integration of the two countries’ payment systems.

The finance minister said majority of Chinese companies was interested in expanding investments and increasing employment opportunities in Pakistan and assured that the government was committed to providing foolproof security to Chinese workers.