ISLAMABAD - The Citibank on Saturday offered its expertise and services to the government of Pakistan for floating sovereign bonds and raising capital from international market.

A delegation of Citi Bank comprising Samad Sirohey, Head of Debt Capital Markets for Middle East and CEO East Islamic Bank, Razwan Shaikh, Head of Loan Syndication, Nadeem Lodhi, CCO Citi Pakistan, Amir A Khan, Corporate Head Citi Bank Pakistan, and Salman Mian, VP Islamabad, called on Finance Minister Ishaq Dar.

According to Citibank team, Pakistan’s election results were well received by credit markets which can be gauged from the fact that the borrowing yields or its Eurobonds fell by minus two percent immediately after the assumption of new government. Citibank, Lodhi said, was ready to work with the new government to help devise products for raising credits from international market.

While talking to the delegation, Senator Ishaq Dar said that the initiatives taken by government which include budgetary measures, programme with IMF staff and settling the circular debt have received good response. Various international banks and financial institutions have approached government of Pakistan to extend their support in the efforts of the new government to revive the economy and repair the structural imbalances.

The Finance Minister said that he is confident that the government would be able to overcome the challenges facing the economy once the measures taken by it start showing results. The meeting was attended by senior officials of the Ministry of Finance.