FM Aurangzeb says Pakistan will return to global capital markets this year

Finance Minister Muhammad Aurangzeb has announced that Pakistan will return to the international capital markets this year.

Addressing an event in Davos today, on the sidelines of the 56th Annual Meeting of the World Economic Forum, he said the government is totally focused on printing the inaugural Panda Bond for Pakistan. He stressed that for the first time Pakistan is going to tap the Chinese capital market which is the second largest market in the world.

The Finance Minister said Pakistan has consolidated its gains in terms of macroeconomic stability and the country is moving in the right direction.

He pointed out that Pakistan has external validations as three global rating agencies upgraded the country's rating last year and they are maintaining Pakistan's positive outlook. He said this is all because of government's structural reforms.

The Minister said Pakistan's tax to GDP ratio is now in double digits but there needs more efforts for sustainability.