Pakistan will not launch any more conventional or Islamic bonds on the international market until June 30, 2015 and will not care about investors of Tuwairqi Steel Mills Ltd moving out, Finance Minister Ishaq Dar said yesterday.
“We do not intend to launch any sovereign paper until June 30 next year, neither conventional nor Islamic bond,” he said while responding to a question at a news conference yesterday in Islamabad. He said Pakistan had completed its portfolio of international capital market transactions.
The minister said Pakistan requested the International Monetary Fund to consider its case for disbursement of $1.1 billion (two installments) in its Dec 17 meeting instead at the end of this month to make up for the previous loss.
He said the government was hopeful of delivering on its promise of achieving $15bn foreign exchange reserves by Dec 31, 2014.
He said Pakistan had completed all prior actions required to be taken before Nov 30 including appointment of chairman of National Electric Power Regulatory Authority (Nepra), the director general debt management and the net domestic assets targets.
The minister said the government had also decided not to go for distress sale of public sector assets and in fact it had taken off oil and gas companies from the active list of privatisation and divestment of shares in view of depressed oil prices.
