Pakistan aims to launch Panda bond in Chinese market: Aurangzeb

Finance Minister Muhammad Aurangzeb met with China's Vice Minister of Finance Liao Min in Washington DC on Saturday. During the meeting, the Finance Minister reaffirmed the all-weather strategic cooperative partnership between Pakistan and China. He thanked the Government of China for its unwavering support to Pakistan's socio-economic development and assistance in securing the IMF's Extended Fund Facility. Muhammad Aurangzeb added that Pakistan was eager to learn from China's experience with economic reforms. He also welcomed BYD's decision to introduce electric vehicles in Pakistan. The Minister said that the government aims to launch an inaugural Panda bond in the Chinese market to diversify its financing base. The Finance Minister shared that the majority of Chinese companies are interested in expanding their investments and increasing employment opportunities in Pakistan. He said government is committed to provide foolproof security to Chinese workers. He also requested the Chinese side to raise t he 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. Source: Radio Pakistan