Key Takeaways
- Pakistan’s Finance Minister Muhammad Aurangzeb has sought US EXIM financing for PIA’s Boeing 787 Dreamliners and refinery upgrades.
- Discussions also covered the Reko Diq mining project and PIA’s need for spare parts for grounded Boeing 777 aircraft.
- Aurangzeb highlighted Pakistan’s focus on digital transformation and international economic cooperation.
Pakistan’s Finance Minister, Muhammad Aurangzeb, has sought support from the US Export-Import Bank (EXIM) for financing Pakistan International Airlines (PIA) aircraft purchases and refinery upgrades during his recent visit to New York.
The meetings, held on the third day of his visit to attend the 81st Session of the United Nations General Assembly (UNGA), included discussions with the Chair of the US EXIM Bank, John Jovanovich, focusing on financing opportunities for PIA’s aircraft procurement and refinery modernisation.
Aurangzeb expressed PIA’s interest in acquiring Boeing 787 Dreamliners and sought support for a financing package that would cover aircraft and engines, as well as the return to service of grounded Boeing 777 aircraft through the provision of spare parts.
The finance minister also highlighted the importance of the Reko Diq mining project to Pakistan’s future exports and welcomed the US EXIM Bank’s continued commitment to the project.
During his engagements, Aurangzeb discussed PIA’s fleet modernisation with Boeing Global President Dr Brendan Nelson, exploring options for earlier delivery slots and interim leasing arrangements.
Aurangzeb’s focus on advancing digital transformation and strengthening international economic cooperation was evident in his discussions, alongside the practical opportunities for cooperation and investment in key sectors such as aviation, refining, and mining.
The finance minister’s efforts underscore Pakistan’s commitment to modernising its aviation and refining industries, while also addressing the urgent need for operational efficiency and financial support.
