Pakistan to Return to International Capital Markets This Year: Aurangzeb

Davos: Finance Minister Muhammad Aurangzeb has announced that Pakistan will return to the international capital markets this year. Addressing an event in Davos today, on the sidelines of the 56th Annual Meeting of the World Economic Forum, he stated that the government is focused on issuing the inaugural Panda Bond for Pakistan. He emphasized that, for the first time, Pakistan is set to tap into the Chinese capital market, which is noted as the second largest in the world.

According to Radio Pakistan, the Finance Minister highlighted that Pakistan has achieved macroeconomic stability and is moving in the right direction. He mentioned that the country’s economic progress has been validated externally, with three global rating agencies upgrading Pakistan’s rating last year, maintaining a positive outlook for the nation. This development, he attributed to the government’s structural reforms.

The Minister also discussed Pakistan’s tax to GDP ratio, noting that it has reached double digits. However, he acknowledged that further efforts are needed to ensure sustainability in this area.