Prime Minister Muhammad Shehbaz Sharif became the first Pakistani prime minister to open a trading session at the London Stock Exchange (LSE), where he also formally inaugurated Pakistan’s $3 billion dual-tranche sovereign Eurobond. The ceremony took place at the LSE headquarters in Paternoster Square, London, and brought together senior Pakistani officials, representatives of the London Stock Exchange Group and British authorities. The event marked a significant engagement between Pakistan and one of the world’s major international financial markets.
Addressing the ceremony, Shehbaz Sharif highlighted Pakistan’s efforts to attract foreign investment and said the country had potential for investments offering high returns while remaining mutually beneficial. He pointed to improvements in the country’s macroeconomic indicators, describing the recent developments as supportive of future economic activity. The prime minister also used the occasion to discuss measures being taken by the government to strengthen the economy and improve Pakistan’s engagement with international investors.
The ceremony followed Pakistan’s successful $3 billion dual-tranche Eurobond transaction earlier in September. The bond sale attracted nearly $6 billion in orders, representing demand from international investors for Pakistan’s sovereign debt. A Eurobond is an international debt security issued outside the country of the currency in which it is denominated. Despite the name, the instrument does not necessarily involve the euro or European markets, and its designation relates to the international nature of the debt issuance.
Shehbaz Sharif credited Finance Minister Muhammad Aurangzeb and his team for arranging the latest Eurobond transaction. He linked the transaction to wider economic measures, including structural reforms, digitisation of the economy and steps aimed at strengthening Pakistan’s economic position. The prime minister said these measures were part of efforts to place the national economy on a more stable footing and increase engagement with international financial markets.
The prime minister also discussed the government’s privatisation programme, referring specifically to the privatisation of Pakistan International Airlines and First Women Bank. He said the government was pursuing the transfer of additional state-owned enterprises to private-sector management, reflecting its stated policy of reducing the role of the public sector in running commercial businesses. The comments placed the Eurobond transaction within a wider discussion about reforms, investment and the restructuring of state-owned enterprises.
During his remarks, Shehbaz Sharif also referred to the Gulf crisis and its implications for investment decisions. He said international investors were assessing markets with greater attention to safety and risk as geopolitical developments continued to affect economic conditions. He also highlighted Pakistan’s diplomatic role in attempting to mediate between the United States and Iran, while expressing hope that the country would continue contributing to regional dialogue.
The prime minister said the changing international environment provided lessons for policymakers and investors as they evaluated different markets. His comments came as Pakistan sought to strengthen its presence in international capital markets and attract foreign investment beyond sovereign debt. He also addressed London Stock Exchange Group CEO David Schwimmer, saying Pakistan wanted to benefit from his guidance on expanding the country’s engagement with international financial markets.
The London ceremony was attended by David Schwimmer, Finance Minister Muhammad Aurangzeb, Advisor on Privatisation Mohammad Ali, Pakistan High Commissioner Tipu Usman, members of the Pakistani delegation and relevant British officials. The event combined the formal opening of the LSE trading session with the inauguration of Pakistan’s latest sovereign Eurobond, placing the transaction within the broader context of Pakistan’s efforts to access international capital and engage with global investors.
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