Pakistan wants to enter Chinese market with Panda bonds: Finance Minister Aurangzeb

Finance Minister Muhammad Aurangzeb has said that to enter the Chinese market, Pakistan wanted to issue Panda bonds, reported 24NewsHD TV channel.

Before leaving for his three-day official visit along with Energy Minister Awais Leghari, Finance Minister Aurangzeb said he would discuss bonds and energy debts rescheduling with Chinse officials. He said Chinese authorities will be informed of changes in power distribution companies and their boards.

Aurangzeb claimed discussions will be held with Chinese authorities on energy sector reforms. Aurangzeb said he would meet the Finance Minister of China and thank him for the assistance provided by China at various forums.

He said like the US, China was important to Pakistan. He claimed that economic stability will not come overnight. The government was holding talks with various sector representatives to increase the revenue as they held talks with retailers and builders.

Aurangzeb said the government will talk to people associated with the agricultural sector as they have already started negotiations with them.

Aurangzeb said the government was discussing the financing gap with the IMF and this will not affect the approval of staff-level agreements. He said the IMF's Executive Board will approve the staff-level agreement at the end of August.

Reporter: Waqas Azeem