PTI government plan for generating $3 billion

PTI government plan for generating $3 billion
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ISLAMABAD - The government is likely to issue Pakistani Diaspora Bonds following the federal cabinet’s approval.

Reportedly, the government is in a position to issue the Pakistani Diaspora Bonds within a month, aimed at raising funds from the overseas Pakistanis in order to meet the country’s financing requirements.

The cabinet approved the rules for the bonds last week.

However, the government has decided to delay the launch of $3 billion worth of Eurobonds and Sukuk bonds by at least six months.

The reason for delaying the Eurobonds is due to the ongoing agreement with the International Monetary Fund (IMF) for a bailout package.

Notably, the government had planned to raise $3 billion by floating sovereign bonds during the fiscal year 2018-19 in the budget estimates.

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