Advertisement
Categories: BusinessNewsPakistan

Pakistan set to launch Euro bonds as credit rating improves: Finance Minister

Advertisement

During a media interaction at a local hotel on the occasion of the Securities and Exchange Commission of Pakistan’s mortgage launch event, Federal Minister for Finance Muhammad Aurangzeb provided significant updates on the country’s economic situation and upcoming financial measures.

The Finance Minister revealed that Pakistan will launch Euro bonds once the country’s credit rating reaches the “B” category, which is expected in the next few months. “We have had positive discussions with Fitch, Moody’s, and S&P, and we are in continuous contact with them to improve our economic standing,” the minister stated.

The Minister also highlighted ongoing negotiations with the World Bank and the Asian Development Bank (ADB) regarding climate financing. “We have also been in talks with the Vice President of the Asian Infrastructure Investment Bank (AIIB) today. We need to present our plans effectively to secure the $1 billion in climate financing,” he added.

The Finance Minister Aurangzeb projected that Pakistan’s foreign exchange reserves will reach $13 billion by June 2025. He noted that once reserves reach this level, they will cover three months of imports, providing much-needed stability to the economy. “This will ensure that our import needs are safeguarded,” he explained. Investment

Regarding local investment, the Finance Minister emphasized that interest rates had been reduced to attract domestic investors and traders. “The Karachi interbank market rate is currently at 13%, and we expect it to decrease further,” he said. He also pointed out that the government needed to improve the taxation system and reduce energy costs, and the Ministry of Energy was already working on reducing power tariffs. The Minister stressed that ongoing digitalization would close the doors to corruption within the Federal Board of Revenue (FBR).

“This is a crucial step that will increase the tax net and reduce corruption,” he remarked. The Finance Minister further stated that Pakistan was attracting interest from friendly countries for large-scale investments, with global financial institutions increasingly confident in Pakistan’s economic prospects.

“We have stabilized our economy, and now it is the responsibility of regulators and banks to continue fostering economic growth,” he said. The Minister Aurangzeb that several steps had been taken to achieve the country’s economic targets for the next fiscal year, aiming to accelerate the pace of economic development.

Advertisement
Zayn

Zain is a dynamic business student with a passion for technology that goes beyond the classroom. When he's not immersed in his studies, Zain can be found playing with the latest gadgets, fueled by a genuine curiosity for emerging tech trends. His love for technology extends to his avid reading habits, where he stays updated on the latest advancements and breakthroughs in the tech world. Despite his academic focus, Zain is also an outdoor enthusiast, always ready for an adventure. With several years of experience in writing news, Zain brings a unique blend of business acumen, tech-savviness, and journalistic expertise to any discussion or project.

Recent Posts

Pakistan Enters Top 100 of Global Passport Index, Eyes Further Gains with Digital Upgrades

Pakistan’s passport has made a notable leap in global mobility rankings, entering the top 100…

2 hours ago

International Survey Reveals Pakistanis Support Actions to Address Climate Change

An international survey conducted across 17 total countries, including Pakistan, was commissioned by the Global…

2 hours ago

Pakistan’s first AI data center launched

Data Vault Pakistan has officially launched the country’s first AI-focused data center in Karachi, a…

2 hours ago

Trade Development Authority of Pakistan to Represent Country at Ambiente Frankfurt 2026

Ambiente Frankfurt 2026, the world’s leading international trade fair for consumer goods, is set to…

2 hours ago

LuckyOne Mall Launches SIMT: A Career Counseling Initiative Honoring Pakistan’s Unsung Heroes

In a powerful demonstration of purpose-driven leadership, LuckyOne Mall—one of Pakistan’s premier lifestyle destinations—has unveiled…

2 hours ago

Over 7 million streaming accounts’ credentials were leaked in 2024: Kaspersky Report

In a new report, Kaspersky identified over 7 million compromised accounts belonging to streaming services…

3 hours ago