ISLAMABAD: Pakistan is poised to enter the Chinese onshore bond market, with its inaugural Panda Bond issuance targeted for January 2025, marking a significant step in diversifying its funding sources.
The update came during a high-level review meeting chaired by Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb. Officials from the Finance Division and the Debt Management Office briefed the minister that all necessary approvals from multilateral partners have been secured and engagement with Chinese institutional investors has been highly constructive.
Investor sentiment was reported as “particularly strong,” reflecting broad-based interest from a diversified investor base. This robust response is seen as a vote of confidence in Pakistan’s ongoing macroeconomic stabilization, improved policy framework, and positive medium-term outlook. The final regulatory nod from Chinese authorities is expected by early January, after which the inaugural tranche of $250 million is planned to be launched and concluded within the month.
Minister Aurangzeb emphasized that this move is part of a structured, programmatic financing strategy aligned with prudent debt management. The overall Panda Bond program is envisaged at approximately $1 billion. Preparatory work for subsequent issuances under “Panda Series II” has already begun, with Chinese regulators informed of this phased approach.
The meeting noted that prevailing market conditions remain supportive, all necessary documentation and guarantees are in place, and engagement with financial institutions is on track. Initial outreach for the second series has also been undertaken.
Concluding the session, the Finance Minister expressed satisfaction with the progress, reaffirming the government’s commitment to market-based financing. The successful issuance of the Panda Bond is expected to further support Pakistan’s medium-term debt sustainability and strategic diversification of its funding profile
Meanwhile the Inspector General (IG) of Balochistan Police, Abdul Khalique Shaikh, unveiled a transformative modernization plan for the force while addressing the prestigious passing out parade of the 104th Recruit Course at the Police Training College (PTC) here on Wednesday. Chief Minister Mir Sarfaraz Bugti was the chief guest at the ceremony.
In a policy speech that blended tribute with future vision, the IG honored the martyrs of the 2016 PTC terrorist attack, sending a clear message to adversaries. “The blood of the martyrs will not go in vain,” he declared, asserting that the force’s morale “is strong like a rock.”
