Current Affairs - International - Discussion

Pakistan Cabinet approved the issuance of Pakistan's one-of-its-kind Panda Bonds after a meeting presided by Prime Minister Imran Khan. The approval for issuance of bonds in the capital markets of China was given effect to the delay issuance of US dollar dominated Euro bonds worth 3 billion dollars. Finance Minister, Asad Umar told the interest rate may range above 5.5% but the final price would be determined only at the time of launching the bond. The size, tenure and pricing would be determined on the basis of market response. The bonds will help the government diversify the investor base of capital market issuance and provide a source of raising Renminbi, the Chinese Currency.