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Govt to Make Global Announcement on Initiation of Euro Bonds

Highly placed officials in the Ministry of Finance informed the concerned officials that the government has decided to issue a global announcement regarding the introduction of the Eurobonds in the international capital market and also address the concerns of the international investors.

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Authorities stated that the Ministry of Finance wants to issue Eurobonds in the international capital market during the current month for which a global announcement would take place shortly.

The administration has also determined to address the worries of the overseas investors by interacting with them and alleviating their apprehensions. The announcement of the agreement/transaction will be followed in the coming days by thorough presentations to prospective investors, according to officials.

Ministry of Finance has instructed the State Bank of Pakistan (SBP), Federal Board of Revenue (FBR) and other relevant ministries and divisions to depute top officials to respond to the queries of the overseas investors.

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The FBR has waived income tax on the proceeds from the sale of Eurobonds and international Sukuk issued under the government’s medium-term note programme that are held by an agency of a foreign government, a foreign corporation, firm, or association of persons, or any other non-resident person.

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