Pakistan`s Euro Bonds Over-Subscribed by Seven Times
'Pakistan Times' Business & Commerce Desk

ISLAMABAD: Dr. Salman Shah, Advisor to Prime Minister on Finance and Economic Affairs said that Pakistan's Euro bonds which were floated for 500 million dollars were over-subscribed by seven times and fetched US $ 750 million.

Talking to 'Pakistan Times' [Daily Web Newspaper] he said this is a very good news that it represented a vote of confidence in the Pakistan economy and the country's potential.

It is a ringing endorsement of the present government's policies, he added.

Dr. Shah observed before going for Pakistan's bond road show, there were some reservation whether the bonds should be floated in view of the political situation.

But the government decided to go head and continue this annual feature, he added.

He said that the continued international confidence in Pakistan would have a positive impact and help bring more foreign investment in the country, even though private investors were usually very cautious.

Dr.Shah said about reasons behind the growth, Pakistan has a market of 160 million in a population of 100 million who are under 25.

It will reach 200 million by 2050 to become the fourth largest workforce in the world.

This was one of the strengths of the economy. In addition, middle class was expanding, markets are growing as also the shift from textiles to engineering and high tech.

Besides, the government was now going to make more investments in human resource developments, physical infrastructure, national trade corridor and dams.

Dr. Shah said Pakistan is 6th biggest country according to population and among top 20 emerging economies.

The country is making progress in the fields of engineering, electronics, banking and textile that is attracting the investors, he added.●