In a significant development for Pakistan-China economic relations, Pakistan has decided to issue Panda Bonds worth $1 billion in the Chinese market, ARY News reported on Thursday, citing sources in the Ministry of Finance.
As per details, the issuance of the Pand Bonds will take place in three phases between the current fiscal year and 2028.
In the first phase, Panda Bonds worth $250 million will be issued.
The remaining $750 million will be launched in the second and third phases, finance ministry sources confirmed.
Previously, it was planned to issue Panda Bonds worth only $250 million, but the full $1 billion issuance is now back on the agenda.
