Sign in Subscribe
  • E-Papers
    • Profit Magazine
    • Pakistan Today
  • Headlines
  • Featured
  • Opinion
    • Comment
    • Editorial
  • Tech
    • Artificial Intelligence
  • World
  • Satire
Sign in
Welcome!Log into your account
Forgot your password?
Create an account
Sign up
Welcome!Register for an account
A password will be e-mailed to you.
Password recovery
Recover your password
Search
Sign inSubscribe
Profit Profit by Pakistan Today
Profit Profit
  • E-Papers
    • Profit Magazine
    • Pakistan Today
  • Headlines
    • Headlines

      Senate body orders full refund of Rs 36bn to 67,000 Hajj…

      Headlines

      Pakistan National Shipping Corporation to earn $700 million as fleet expands…

      Headlines

      Railways on reform track: Abbasi touts historic restructuring, revenue growth, and…

      Headlines

      Supernet Technologies approves merger with group company, Eyes capital restructuring

      Headlines

      ECC approves over Rs2.6 trillion in supplementary grants, greenlights risk scheme…

  • Featured
    • Cover story

      Farewell, Careem Pakistan

      Editor’s picks

      Pakistan has made leaps and bounds in financial inclusion, but our…

      Editor’s picks

      Beco Steel: From the ashes of one rises another

      Automobile

      Daimler Truck is coming to Pakistan. Kind of.

      Cement

      Lahore High Court’s royalty decision gives Punjab’s cement manufacturers pricing disadvantage

  • Opinion
    • AllCommentEditorial
      Comment

      Unlocking Pakistan’s digital potential: why a smarter approach to 5G is…

      Comment

      Pakistan’s tech sector: From outsourcing hub to global innovation partner

      Editorial

      Painfully Deja Vu

      Editorial

      Growth on paper, stagnation on ground

  • Tech
    • AllArtificial Intelligence
      Artificial Intelligence

      Germany asks Apple and Google to remove DeepSeek over data concerns

      Social Media

      Meta may face daily EU fines over pay-or-consent model

      Artificial Intelligence

      Singapore adjourns case over suspected Nvidia chip exports to China until…

      Aviation

      Hawaiian Airlines hit by cybersecurity event

  • World
  • Satire

Govt contemplating issuance of Renminbi bonds

By
Monitoring Desk
-
March 12, 2018
0
300
Facebook
Twitter
Linkedin
WhatsApp
Email

    ISLAMABAD: The government is seriously considering issuance of Renminbi (RMB) bonds for settling its immense payment obligations with China without pressurizing the foreign exchange reserves.

    A meeting conducted in relation to the country’s economy last week saw certain participants sharing present remittances and trade data to understate the economic weaknesses, reported Dawn.

    The meeting however did discuss the upcoming general elections and caretaker setups and consider potential intercession to stabilize the economy over the next six months.

    Various sources in the government and banking fraternity said going back to the IMF wasn’t considered a possibility in immediate future. The reason attributed for this were the donor’s stabilization requirements could damage the present growth cycle.

    The meeting favoured the issuance of an RMB bond. However, Chief Economist Planning Commission, Dr Nadeem Javed said current economic growth rate wasn’t an illusion and believed current growth was engineered by several original drivers.

    He added there were various options available to deal with issues on external front.

    He shared his views regarding current account and trade deficits over the phone with Dawn. He said there were implicit arrangements with various friendly nations which could be utilized to avoid a balance of payment crisis.

    Mr. Javed said the government go for issuance of an RMB bond and import bill settlement could be conducted via currency swap arrangement with China.

    And other alternatives available included raising finances from the international bond market, enabling currency swap arrangements with trade partners to avert a fall in forex reserves and a return to the IMF was last on the list, he said.

    Chief Economist of the Planning Commission expressed optimism conditions wouldn’t reach a crisis stage as steps taken to rein in imports and improve exports were bearing results.

    He shared imports growth was being reined by levying of regulatory duties and exchange rate, and exports increased 11.8 percent against same period last year (SPLY).

     

     

     

    • TAGS
    • Currency Swap
    • current account deficit
    • Renminbi Bonds
    • trade
    • Trade deficit
    Facebook
    Twitter
    Linkedin
    WhatsApp
    Email
      Monitoring Desk
      Our monitoring team diligently searches the vast expanse of the web to carefully handpick and distill top-tier business and economic news stories and articles, presenting them to you in a concise and informative manner.

      RELATED ARTICLESMORE FROM AUTHOR

      Headlines

      Services sector’s trade deficit declines 52% MoM in February

      Headlines

      Pakistan’s services exports decline for third consecutive month

      Headlines

      Pakistan’s trade deficit shrinks by over 30% in July-Feb

      Whatsapp Newsletter
      Email Newsletter News Tips
      Profit by Pakistan Today
      Publishing Editor: Babar Nizami -- Editor Multimedia: Umar Aziz Khan -- Senior Editor: Abdullah Niazi -- Editorial Consultant: Ahtasam Ahmad -- Business Reporters: Taimoor Hassan | Shahab Omer l Zain Naeem | Nisma Riaz | Mariam Umar | Hamza Aurangzeb | Shahnawaz Ali | Ghulam Abbass | Ahmad Ahmadani | Aziz Buneri -- Sub-Editor: Saddam Hussain -- Video Producer: Talha Farooqi -- Director Marketing : Mudassir Alam | Regional Heads of Marketing: Agha Anwer (Khi) | Kamal Rizvi (Lhe) | Malik Israr (Isb ) -- Manager Subscriptions: Irfan Farooq -- Pakistan’s #1 business magazine - your go-to source for business, economic and financial news.
      Contact us: profit@pakistantoday.com.pk
      • Privacy policy
      Copyright © 2025. Pakistan Today. All Rights Reserved.