ISLAMABAD: The details of the government’s plan to issue Panda Bonds worth $250 million in the first phase have been revealed.
An important meeting was held under the chairmanship of Federal Finance Minister Senator Muhammad Aurangzeb regarding the issuance of Panda Bonds, in which the progress of Pakistan’s first Panda Bond issuance was reviewed. On this occasion, officials of the Ministry of Finance gave a detailed briefing on the approvals and contacts with investors.
The meeting received a positive response from Chinese institutional investors and the improvement in investor confidence was described as a manifestation of economic stability. The participants described the current market situation as favorable for Panda Bonds.
The participants of the meeting were informed about the completion of the documentation process and guarantees and the final approval from the relevant Chinese authorities was expected soon.
The meeting chaired by the Finance Minister was informed that the first issue of Panda Bond is expected in January and in this regard, there is a plan to issue bonds worth about $250 million in the first phase, while a total target of issuing up to $1 billion has been set under the Panda Bond Program. Along with this, preparatory work for the next phases has already started.
Terming the bond issue as part of a prudent debt strategy, the Finance Minister said that Panda Bond will help balance the debt burden and diversify financial resources. He reiterated his commitment to market-based and responsible financing.
Delegation of telecom infrastructure companies and investment institutions meets
Meanwhile, a delegation of telecom infrastructure companies and investment institutions met with Federal Finance Minister Senator Muhammad Aurangzeb, in which issues related to taxes and investments facing the telecom sector were discussed.
The meeting discussed digital connectivity and improving the business environment. The Federal Minister for IT and Telecommunication and heads of relevant agencies also attended the meeting.
The delegation briefed the Finance Minister about their business models and practical difficulties. In addition, issues related to the installation of telecom towers and regulatory requirements were also discussed in the meeting, while proposals for relaxation of the tax system to promote investment were also presented.
The Finance Minister described the role of telecom infrastructure as important in digital connectivity. He stressed the involvement of the private sector for new investment and employment opportunities and reiterated the commitment to a business-friendly and transparent policy framework.
The meeting encouraged the leadership of the private sector in technology and innovation sectors, while the participants agreed to establish a working group to review investment and tax proposals. This working group will formulate actionable recommendations after detailed consultations.