Pakistan’s finance minister Muhammad Aurangzeb discussed a prospective sukuk issue with Sharjah Islamic Bank during the annual IMF–World Bank meetings in Bangkok. The bank reiterated its willingness to participate. Talks covered other financing instruments as Pakistan seeks longer maturities and less concentrated repayments without increasing total external debt. No completed borrowing amount or issue price was announced.
Pakistan’s finance minister Muhammad Aurangzeb discussed a prospective sukuk issue with a delegation from Sharjah Islamic Bank, a bank based in the United Arab Emirates. The meeting took place during the annual International Monetary Fund and World Bank meetings in Bangkok, Thailand. The bank reiterated its readiness to participate in the prospective financing. Pakistan’s finance ministry described the talks on 17 October.[1], [2]
The discussion also covered panda bonds, financing backed by the Multilateral Investment Guarantee Agency, rupee-denominated instruments settled in dollars and possible tokenisation of Eurobonds. These were prospective financing options. No completed borrowing amount or issue price was announced. The bank and minister also discussed refinery upgrades, power-distribution privatisation and airport outsourcing as investment opportunities.[1], [2]
Aurangzeb outlined a plan to replace expensive short-term borrowing, extend maturities and reduce repayments concentrated at particular dates without increasing total external debt. Rising global funding costs also featured in the talks. Follow-up on financing discussions is to be coordinated through the finance ministry’s Debt Management Office.[1]
