Govt suggested to launch CPEC bonds

ISLAMABAD: After the successful auctioning of Sukuk bonds, the United Business Group (UBG) of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) suggested the government to launch China Pakistan Economic Corridor (CPEC) bonds to overcome financial difficulties.

Lauding the government for the successful auction of bonds worth $2.5 billion without being under International Monetary Fund (IMF) programme, the UBG said that the issuance of these bonds would help government, however these would not resolve the financial difficulties on the back of falling exports and increasing imports, said a top officials of the group in a statement issued here.

“The government needed at least ten billion dollars to tackle the situation for which it could consider issuing CPEC bonds, Naseemur Rehman, a central leader of the UBG said.

CPEC was one of the greatest projects of the history of mankind therefore many individuals and companies would prefer to invest in CPEC bonds, he added.

He was of the view that the successful move spoke volumes about the increasing confidence of the foreign investors in the Pakistani economy.

He said that railways infrastructure was also being improved under the economic corridor, therefore, the government could also issue railway bonds and offer tax breaks to lure investors.

He said, the decision of the government to allow IMF to monitor Pakistani economy was laudable as it would help boost the confidence of the investors.