Shafaqna Pakistan: Federal Finance Minister Muhammad Aurangzeb has announced that arrangements have been finalized for the repayment of UAE loans and Eurobonds.
Speaking to Dunya News on the current economic situation, he emphasized the need to formulate policies in light of prevailing challenging conditions.
He added that foreign exchange reserves will be stabilized and maintained in accordance with International Monetary Fund (IMF) targets.
The minister assured that all commitments related to Pakistan’s timely payments will be met and noted that preparations are underway for commercial financing and bond issuance.
Discussions are also ongoing with a consortium of banks to secure additional commercial financing.
The finance minister said that preparations for issuing Panda Bonds will resume by the end of April, with the government planning to raise a total of $1 billion through these bonds.
He expressed confidence that financing targets set for the current fiscal year will be achieved as per commitments.
He noted that since this is Pakistan’s first-ever Panda Bond issuance, it is taking time, while the impact of regional tensions on the national economy is also being assessed.
Muhammad Aurangzeb added that economic policies formulated in coordination with the IMF have put the economy on the right track, and important economic decisions along with budget preparations will be made in the coming days.
Source: Dunya News
