Panda bonds to be issued by June: FinMin

Pakistan plans to issue Yuan-denominated Panda Bonds by June 2025 to enhance its capital market integration with China, Federal Minister for Finance and Revenue Muhammad Aurangzeb said. In an interview with the South China Morning Post (SCMP), Aurangzeb reaffirmed Pakistan's commitment to deeper cooperation with Beijing under the second phase of the China–Pakistan Economic Corridor (CPEC), emphasising its role in boosting trade and investment. He urged greater participation from China's private sector and export-led industries to help transform Pakistan's debt-laden economy. The minister revealed that Pakistan aims to raise $200 million to $250 million through the Panda Bonds. Aurangzeb, attending the Asian Financial Forum in Hong Kong, said, "Since I took over [in March 2024], I've been very vocal about this—we want to go for Panda Bonds, an inaugural sovereign Panda Bond... I'm pushing everyone, including our own teams, to see if we can get this done before June."