Pakistan is preparing to secure $750 million (Rs2.11 trillion) in external financing over the coming weeks through two initiatives the issuance of Panda Bonds in China’s market and commercial financing from international banks.
According to media reports, the government is considering raising $300–500 million in commercial loans through a consortium of international banks, including Deutsche Bank and Standard Chartered. The financing is being pursued to help Pakistan meet a $500 million (Rs1.40 trillion) Eurobond maturity payment due on September 30, 2025.
Sources confirmed that Pakistan also faces another major debt repayment of $1 billion (Rs2.80 trillion) in April 2026. These plans for dollar inflows come as the IMF review mission is scheduled to arrive in Karachi on September 25, where it will meet officials from the State Bank, OICCI, and the Pakistan Business Council (PBC).
A senior source inside government told media that discussions are underway to finalize commercial financing through international lenders. In addition, Pakistan plans to issue $250 million worth of Panda Bonds in the Chinese market, likely in November.
Finance Minister Muhammad Aurangzeb, when approached for comment, confirmed the government’s focus on Panda Bonds, saying the first issuance would take place soon.
Officials stressed that the government and the State Bank are seeking ways to manage upcoming external payments without putting additional strain on Pakistan’s foreign exchange reserves.
