Finance Minister Muhammad Aurangzeb emphasized the significance of Chinese investment for Pakistan’s economic stability.
In an interview with Chinese media, he mentioned Pakistan’s plans to issue Panda Bonds by June, aiming to raise $200 to $250 million from Chinese investors. Discussions with the Asian Infrastructure Investment Bank are ongoing for a bank guarantee to back these Yuan-denominated bonds, modeled after Egypt’s approach.
Aurangzeb highlighted the importance of further collaboration with China, particularly in the next phase of the China-Pakistan Economic Corridor (CPEC). This phase will prioritize developing special economic zones, agriculture, and the IT sector.
He urged Chinese private sector and export industries to invest in Pakistan, proposing that major Chinese companies relocate their export units to Pakistan to utilize it as an export hub. He noted that prioritizing export industries in CPEC Phase II could facilitate debt repayment.
The finance minister assured that Pakistan would enhance security measures to safeguard Chinese companies and investors. He highlighted improvements in the country’s security situation, evident from international conferences and visits by foreign delegations. Ensuring the safety of foreign companies and investors remains a top government priority.
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