Islamabad: Finance Minister Muhammad Aurangzeb has announced Pakistan’s eagerness to enter the Yuan bond market as part of its efforts to strengthen ties with China. He stated that an initial issuance of a Panda bond, expected to be valued between $200 million and $250 million, is anticipated by the end of this year.

According to Radio Pakistan, Muhammad Aurangzeb expressed optimism about achieving a ‘B’ rating zone in the future by implementing reforms in line with the International Monetary Fund’s (IMF) terms. He highlighted the importance of the China Pakistan Economic Corridor, describing it as a key component of the Belt and Road Initiative led by Chinese President Xi Jinping.

Aurangzeb also emphasized the government’s commitment to ensuring the safety of not only Chinese nationals but all foreign nationals in Pakistan. He noted that the country is currently participating in its 25th IMF program and emphasized the intention for it to be the last.

The Finance Minister underscored the necessity for Pakistan to establish a robust export-led growth model, attract more foreign direct investment, and re-enter the international capital market.