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........

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