Pakistan is planing to issue Eurobonds of up to $1.5 billion within two months to increase its foreign exchange reserves.

Spokesperson of Finance ministry told media that bids for appointment of lead manager for the Eurobond issue have been received from 10 major international banks of repute.

Bids would be evaluated shortly and after selection of Financial adviser, the bond floatation is expected by end-December 2020. While the size of the issue is not fixed, however government will arget in the range of $1-1.5bn depending on the bids.

The spokesperson further said that the Government has also planned for launch of international sukuk which will be carried out later in the Fiscal Year.

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