The federal government has selected international banking groups to help raise at least $2 billion through global bond issuances during the fiscal year 2026-27.
The move aims to strengthen Pakistan’s external financing position and support its long-term financial strategy.
The selected banks will provide advisory services for issuing both conventional and Islamic debt instruments. These issuances will come under Pakistan’s Global Medium Term Note Programme and International Sukuk Programme.
International Banks Join Pakistan’s Financing Plan
The government plans to issue different financial instruments, including Eurobonds, international sukuk, and Pakistani rupee-denominated bonds settled in US dollars.
For the Eurobond programme, Pakistan selected a consortium including Standard Chartered Bank, Citibank, Deutsche Bank AG, Emirates NBD Capital, and MUFG Securities Asia Limited.
Meanwhile, the international sukuk consortium includes Standard Chartered Bank, Dubai Islamic Bank PJSC, Citibank, Emirates NBD Capital, and Mashreq Bank PSC.
For Pakistani rupee-denominated US dollar-settled bonds, the government selected Standard Chartered Bank, Citibank, and Deutsche Bank AG.
Finance Ministry Begins Cooperation With Banks
Finance Minister Senator Muhammad Aurangzeb held a virtual meeting with senior officials from the selected banking institutions.
During the meeting, he formally launched cooperation between Pakistan and the international financial consortiums.
According to the Finance Ministry, future sovereign bond issuances will include both conventional and Islamic financing options.
Moreover, the government plans to continue issuing bonds regularly after completing necessary documentation and regulatory requirements.
Focus on Long-Term External Financing Strategy
Officials said the appointment of international banks is part of a broader plan to create a diversified external financing framework.
The government aims to reduce dependence on one-time fundraising activities by developing a more sustainable approach.
Furthermore, the inclusion of financial institutions such as MUFG Securities Asia Limited and Mashreq Bank will expand Pakistan’s connections with global banking partners.
The bond issuance strategy is expected to support Pakistan’s financing needs while improving access to international capital markets.
Through this initiative, the government hopes to strengthen investor confidence and establish a consistent presence in global debt markets.
