ISLAMABAD- Finance Minister Muhammad Aurangzeb has stated that Chinese investment is crucial for Pakistan’s economic stability.
In an interview with Chinese media, Finance Minister Muhammad Aurangzeb said that Pakistan aimed to issue Panda Bonds by June and sought to raise $200 to $250 million from Chinese investors.
Talks are underway with the Asian Infrastructure Investment Bank for a bank guarantee to issue Yuan-denominated bonds, following the model of Egypt.
Muhammad Aurangzeb emphasized that Chinese investment is vital for Pakistan’s economic stability.
Pakistan sought further collaboration with China in the next phase of the China-Pakistan Economic Corridor (CPEC), which would focus on expanding special economic zones, agriculture and the IT sector.
The finance minister also urged China’s private sector and export industries to invest in Pakistan. He suggested that major Chinese companies could relocate their export units to Pakistan and use the country as an export hub.
He added that prioritizing export industries in CPEC Phase II would facilitate debt repayments.
He further stated that Pakistan will enhance security measures to ensure the safety of Chinese companies. He said that Pakistan’s security situation improved as international conferences are being held and foreign delegations are visiting.
He said the safety of foreign companies and investors is the government’s top priority.
