The Citibank on Saturday offered its expertise services to the government for floating sovereign bonds and raising capital from international market.
This was offered during a meeting between a delegation of Citibank and Finance Minister Ishaq Dar in Islamabad on Saturday.
The Citibank delegation comprising of Samad Sirohey, head of Debt Capital Markets for Middle East and CEO East Islamic Bank, Rizwan Shaikh, head of Loan Syndication, Nadeem Lodhi, CCO Citi Pakistan, Amir A Khan, corporate head Citibank Pakistan and Salman Mian, the VP.
According to Citibank team, Pakistan’s election results were well received by credit markets which can be gauged from the fact that the borrowing yields or its Eurobonds fell by minus two percent immediately after the assumption of new government.
Nadeem Lodhi said that they were ready to work with the new government to help devise products for raising credits from international market.
While talking to the delegation Senator Ishaq Dar said that the initiatives taken by government which include budgetary measures, programme with IMF staff and settling the circular debt have received good response. Various international banks and financial institutions have approached government of Pakistan to extend their support in the efforts of the new government to revive the economy and repair the structural imbalances.
The finance minister said that he is confident that the government would be able to overcome the challenges facing the economy once the measures taken by it start showing results.
The meeting was attended by senior officials of the Finance Ministry.
