The sources said official circles dealing with investors were trying to convince the 'worried' investors by arguing that the leadership of winning political parties would not revert the policies of their predecessors as President Musharraf himself was there to help ensure continuity of his economic policies in the best national interests.
However, political analysts were of the view that President Musharraf would not be as strong as he is, after the installation of a coalition government comprising Pakistan Peoples Party, Pakistan Muslim League-Nawaz and Awami National Party. Economic analysts believed that the new government would be taking a close look at economic policies of Shaukat-led government with a view to effecting drastic changes in them.
The sources said the caretaker government has shelved plan to float international bonds because of increasing spread and political uncertainty in the country, adding that the new government might go for it in May.
Global Depository Receipts issues for government shares in two of the largest commercial banks were ready, but their launching has been postponed due to global financial market slowdown and until the installation of new government. They said some of the international banks were being asked to give presentations to the officials for floating bonds so that everything should be ready for launch at a proper occasion.
The sources said the economic managers were also busy negotiating launching of Islamic bonds with 12-13 local banks, mainly to minimise borrowing from the State Bank of Pakistan.