Islamabad :- Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, chaired a meeting at the Finance Division to review progress on Pakistan’s inaugural Panda Bond issuance.
The Finance Minister was briefed by the Ministry of Finance’s Debt Management Office team, along with senior officers of the Finance Division, on the status of approvals, investor engagement, and regulatory processes.
The meeting noted that approvals from multilateral partners have been secured and that engagement with Chinese institutional investors has been constructive. Investor sentiment has been strong, with broad-based interest and encouraging early feedback from a diversified investor base. This reflects strengthening confidence in Pakistan’s macroeconomic stabilization, an improved policy and reform framework, and a positive medium-term outlook.
Participants highlighted that prevailing market conditions remain supportive, with broad-based investor interest and orderly market functioning. Documentation and guarantees are in place, and engagement with investors is progressing as planned. Final regulatory approvals from the relevant Chinese authorities are expected soon, subject to which the inaugural issuance is planned to be launched during January.
The Finance Minister emphasized that Pakistan’s entry into the Chinese onshore bond market is being pursued as a structured and programmatic financing strategy, aligned with prudent debt management objectives. The Panda Bond program is envisaged at approximately USD 1 billion, with the inaugural tranche planned at an equivalent of USD 250 million. As part of the USD 1 billion Panda Bond Program, preparatory work for subsequent issuances under “Panda Series II” is already underway, and the Chinese regulatory authorities have been fully apprised.
Concluding the meeting, the Finance Minister expressed satisfaction with the progress achieved and reaffirmed the government’s commitment to prudent, market-based financing, noting that the inaugural Panda Bond will further support Pakistan’s medium-term debt sustainability and diversification of funding sources.
