Islamabad : Finance Minister Muhammad Aurangzeb says Pakistan will issue yuan-denominated panda bonds as early as June to further integrate its capital markets with China.
Reasons for longer IMF program:
- Permanence to macroeconomic stability
- Structural reforms and fiscal sustainability
Two aspects w.r.t Taxes:
- Widen & Broaden the base
- Increase Compliance
For Growth, we are:
- Focused on ‘sustaunable growth’ unlike earlier
- Determined to change economic DNA to export-led
- 3%-3.5% targeted for FY25; 6% over next 2-3 years.
We expect:
- Ratings to improve further; optimistic about heppening this fiscal
- Chines capital market more to tap than to target amount as external position is quite comfortable.
In an exclusive interview with South China Morning Post, he said Pakistan aims to raise 200- 250 million dollars from Chinese investors, emphasizing that it was absolutely critical for the nation to diversify its funding base.
Muhammad Aurangzeb also pledged more cooperation with Beijing on the next phase of the China–Pakistan Economic Corridor (CPEC).