SHENZHEN: With the launch of the Panda bond, Pakistan’s Finance Minister Muhammad Aurangzeb has emphasised the nation’s ability to take advantage of economic prospects by joining the Chinese capital markets.
At the “Pak-China Business Forum” on Wednesday, he made the declaration.
Shehbaz Sharif, the prime minister of Pakistan, headed a group that travelled to China on Tuesday to attend the summit and talk about potential ways to get access to the country’s capital markets.
The Pakistani finance minister, emulating the Egyptian model, stated during his speech to the forum that there is a good chance of this project being implemented effectively.
He guaranteed that Pakistani officials are in continual communication with Chinese regulatory authorities to oversee the initiative’s preliminary phases, and he pledged that the plan’s implementation will commence in the next fiscal year.
He emphasised that, under Prime Minister Sharif’s direction, this action signifies a substantial change in their economic strategy.
Additionally, Aurangzeb underlined that the two main sectors of Pakistan’s economy that are growing are agriculture and information technology. He credited Shehbaz Sharif’s leadership in implementing structural economic improvements that led to the currency’s stability.
Aurangzeb also revealed a decline in inflation in May, underscoring the nation’s economic resiliency.
He stressed how boosting foreign direct investment (FDI) in the form of business-to-business investments will promote joint ventures and experience transfers between both nations and how the special economic zones (SEZs) will be a critical pillar in promoting export-led growth.A further highlight of the conference was the rise in foreign investments in Pakistan, which indicates that foreign investors are becoming more confident. Aurangzeb gave Prime Minister Shehbaz Sharif credit for spearheading these economic gains and creating an atmosphere that is favourable to expansion and advancement.
