Islamabad: Pakistan has successfully issued a three-billion-dollar dual-tranche Eurobond, marking the largest such transaction in the country’s history. This significant financial milestone was announced by Finance Minister Muhammad Aurangzeb at an international tax dialogue organized by the Asian Development Bank.

According to Radio Pakistan, the Finance Minister highlighted the transaction as an external validation of Pakistan’s financial standing and noted the country’s recent upgrades in credit ratings. He emphasized the diverse investor base involved, spanning regions including Asia, the Middle East, Europe, and the United States, which he said reflects renewed international confidence in Pakistan’s economy.

Aurangzeb also outlined plans for future financial instruments such as Sukuks, rupee-denominated dollar-settled bonds, and Panda Bonds, aimed at managing debt more effectively. He reported improvements in fiscal discipline, including a 22-year low in the fiscal deficit and three consecutive years of primary surpluses.

In addition, Aurangzeb reiterated the government’s commitment to structural reforms to avoid historical economic cycles. He reported an increase in the tax-to-GDP ratio from 8.1 percent to 10.3 percent and acknowledged the need for further progress.

Minister of State for Finance Bilal Azhar Kayani and Chairman of the Federal Board of Revenue Rashid Mahmood Langrial also addressed the event, stressing the importance of domestic resource mobilization and outlining recent reforms in tax administration.