The Pakistani government has once again delayed the issuance of $250 million worth of Panda bonds, originally scheduled for February 2026, due to incomplete preparations by the Ministry of Finance. According to ProPakistani, this marks the fourth revision to the Panda bond issuance plan during the current fiscal year. The bonds, which are to be issued in Chinese yuan, are expected to have a three-year maturity with a fixed interest rate likely to remain in single digits. The Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB) are anticipated to provide guarantees of up to 95 percent for the issuance. The delay comes amid Pakistan's external repayment pressures, including the maturity of $1.2 billion in Eurobonds due in April 2026, highlighting the urgency of diversifying funding sources and strengthening its presence in the Chinese capital market.