Aurangzeb meets China’s Vice Minister of Finance ‘Aim to launch inaugural Panda bond in Chinese market’

WASHINGTON DC: Federal Minister for Finance and Revenue, Muhammad Aurangzeb, met with China’s Vice Minister of Finance, Liao Min.

While reaffirming the all-weather strategic cooperative partnership between Pakistan and China, he thanked the Government of China for its unwavering support of Pakistan’s socio-economic development and assistance in securing IMF’s Extended Fund Facility (EFF).

He added that Pakistan was eager to learn from China’s experience with economic reforms. He welcomed BYD’s decision to introduce electric vehicles in Pakistan. He said the government aims to launch an inaugural Panda bond in the Chinese market to diversify its financing base.

Aurangzeb says debt reprofile talks with China encouraging

He said Pakistan committed to providing foolproof security to Chinese workers.

He also shared that the majority of Chinese companies are interested in expanding their investments and increasing employment opportunities in Pakistan. He requested the Chinese side to raise the 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.

Copyright Business Recorder, 2024