Govt decides to raise $400 million from global capital market

Federal government has decided to return to international capital markets to raise $400 million from bonds as Pakistan has to repay $1.8 billion in Eurobonds in the first fiscal year, reported 24NewsHDTV Channel. 

Finance Ministry document shows that the government wanted to raise about $400 million from bonds. The government has decided to launch Panda bonds, sugar and sustainable bonds in the international capital market. Pakistan will also repay $1.8 billion in Eurobonds this fiscal year. 

Pakistan plans to borrow in the equivalent yuan currency to hold these bonds privately in China's National Interbank Market. Bonds are expected to yield 3 to 4 percent per annum and have a term of 3 years. 

Pakistan has previously issued bonds in dollars and euros. This will be Pakistan's first experience in the Chinese capital market. 

Reporter: Waqas Azeem