The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) advised the government to introduce CPEC (China Pakistan Economic Corridor) bonds to combat the financial problems.
Sukuk bonds were successfully launched previously and after seeing its success the United Business Group (UBG) of FPCCI suggested this to the government of Pakistan.
The issuance of the Sukuk bonds would assist the government as per the UBG, it added while applauding the government for the successful auction of these bonds worth $2.5 billion on its own without being under the IMF (International Monetary Fund), however as per the statement of one of the top officials released on Sunday, these bonds would not be solving the financial issues raised because of the increased imports and decreased exports.
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Naseemur Rehman—a Central Leader of the UBG mentioned that the government requires a minimum of ten billion dollars to handle the financial crisis for which the issuance of CPEC bonds would be a good consideration.
Mr. Rehman added that CPEC is one of the biggest venture ever of Pakistan’s history, and pertaining to that reason many companies and individuals would happily invest in CPEC bonds.
He holds this view that if the CPEC bonds are launched successfully and marketed well then, they would attract foreign investments. He thinks that the successful auctioning of Sukuk bonds indicate that the international investors are gaining confidence in Pakistan’s economy.
He added that railway infrastructure is also being renovated and improved under the CPEC, therefore the government can also release railway bonds and give propositions for breaking the tax for bringing in investors.
Mr. Rehman added that the Pakistan government’s decision to let IMF monitor Pakistan’s economy was commendable as it would assist in boosting the confidence of the foreign and local investors.