Earlier this month, the government raised additional debt of $1bn through a tap issue of the Eurobond it had floated back in March. AFP/File Pakistan has raised $3.5 billion through an issue of dollar-denominated Eurobonds in two instalments in March and early July to build its foreign exchange reserves and meet its external financing requirements. Some analysts argue that the yields on the offerings are on the higher side given the much lower US treasury rates for the papers of the same tenors and the government should have waited for some more time, at least in floating 10 and 30-year notes.