Finance Minister Muhammad Aurangzeb has said that Pakistan is looking to raise $200 to $250 million from Chinese investors.
In an interview with the South China Morning Post, he said that Pakistan is looking to issue panda bonds by June to further align its market with China's capital market.
He said that discussions are underway with the Asian Infrastructure Investment Bank for a bank guarantee for the issuance of yuan bonds on the lines of Egypt, and that Pakistan is committed to changing its credit rating to single B in the coming months.
He said that Chinese investment is very important for Pakistan's economic stability. Pakistan is looking for more cooperation from China in the next phase of CPEC. In the next phase of CPEC, special economic zones and expansion in agriculture and information technology sectors will be brought.
He said that China's private sector and export industries should invest in Pakistan, large Chinese companies can move their export units to Pakistan and use Pakistan as an export hub, and priority given to export industries in CPEC-2 will make debt repayment easier.
The Finance Minister said that due to an import-based economy, Pakistan is facing a shortage of foreign exchange and an imbalance in payments. Security will be increased to protect Chinese companies in Pakistan. Security conditions in Pakistan have improved, international conferences are being held, and foreign delegations are coming.
Muhammad Aurangzeb said that ensuring the protection of foreign companies and investors is the top priority of the government of Pakistan. Pakistan is looking for business partnerships with China as well as Hong Kong and participation of Pakistani companies in Hong Kong stocks. Talks have been held with Hong Kong Chief Executive John Lee Kuan Yew for Hong Kong investors to visit Pakistan for business partnerships.
He added that mutual partnerships will boost bilateral trade and investment. Pakistani companies and banks have traditionally listed on the London Stock Exchange outside the country. Pakistani companies and banks should take advantage of Hong Kong's reputation to raise capital globally.
Note = This Contact Copy Express News
Post a Comment