Pak-US relations may not hit issuance of bonds: President Pakistan Businessmen and Intellectuals Forum

President Pakistan Businessmen and Intellectuals Forum (PBIF), President AKIA, Secretary General of the Businessmen Panel of FPCCI and former provincial minister Mian Zahid Hussain on Friday said sour relations between Pakistan and American may not hit the issuance of bonds.

The Present government has planned to return to the international debt market for the fifth time to raise almost one billion dollars through Eurobond or Sukuk bonds by offering lucrative returns.

Mian Zahid Hussain said that the decision has been taken to bridge current account deficit which can hit mark of 16 billion dollar by the end of the year while trade deficit of the last year is already over 32 billion dollars.

He said that apart from the relations between Pakistan and USA, the political situation in the country, reports of IMF and other institutions and review of credit

rating agencies will play an import role in the sale of bongs.

Any negative report by credit rating agencies will scare away the investors and the country will have to offer higher interest rates to lure them, he said.

Mian Zahid Hussain said that international market is facing problem of excess liquidity and investors are trying hard to find avenues of investment which is good for Pakistan.

Debt sale would be the fifth one to be issued by the Present government as binds worth $4.5 billion have already been issued, he informed.

Many developing countries have already tapped international markets to benefit from the low interest rate environment.