The government has postponed the issuance of $250 million worth of Panda Bonds for the fourth time this fiscal year, after the Finance Ministry failed to complete the required preparations on schedule.
Originally planned for early February, the bond launch could not move forward due to incomplete documentation and pending approvals, although officials remain hopeful that the process will be completed within the next month.
Read more : Pakistan plans issuing inaugural $250m Panda Bond tranche in Jan
Meanwhile, the government is also arranging funds to repay $1.2 billion in Eurobonds due in April 2026, adding pressure on financial managers to ensure smooth handling of upcoming external obligations.
Moreover, sources revealed that international financial institutions, including the Asian Development Bank and the Asian Infrastructure Investment Bank, are expected to provide guarantees covering up to 95 percent of the bond value.
Read more : Pakistan eyes January launch of inaugural Panda bond –
The Panda Bonds, first proposed during the previous fiscal year, will allow Pakistan to enter China’s interbank bond market for the first time, raising funds in Chinese yuan equivalent to $250 million.
Under the current plan, the bonds will carry a three-year maturity with a fixed interest rate likely to remain in the single-digit range, offering relatively affordable borrowing for the country.