Finance Minister Muhammad Aurangzeb discusses aircraft procurement, refinery upgrades and Reko Diq financing with US EXIM Bank chief.
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb held discussions with US Export-Import Bank Chair John Jovanovich in New York on financing opportunities for key projects in Pakistan, including aircraft procurement for Pakistan International Airlines (PIA), refinery upgrades and the Reko Diq mining project.
The meeting took place during the Finance Minister’s visit to New York to attend the 81st Session of the United Nations General Assembly (UNGA).
PIA Aircraft Financing Discussed
During the meeting, Aurangzeb outlined PIA’s interest in acquiring Boeing aircraft, particularly Boeing 787 Dreamliners, and sought support from the US EXIM Bank for a financing package covering aircraft and engines.
The Finance Minister also highlighted the need for spare parts to help return grounded Boeing 777 aircraft to service.
Both sides agreed to continue work on a broader cooperation framework while prioritising specific potential transactions. These include possible financing support for aircraft pre-delivery payments, which could help facilitate PIA’s planned fleet requirements.
Refinery Upgrades Among Potential Projects
Refinery modernisation was also identified as another potential area where the US Export-Import Bank could provide support.
The discussions form part of Pakistan’s broader efforts to attract financing for major infrastructure and industrial projects while strengthening cooperation with international financial institutions.
US EXIM Support for Reko Diq
The Reko Diq mining project was another key topic during the meeting.
Aurangzeb emphasised the importance of the project for Pakistan’s future export potential and highlighted the economic cost associated with delays.
The Finance Minister also welcomed the US EXIM Bank’s continued commitment to the project.
Reko Diq is considered a major mining development for Pakistan, with the government seeking to advance the project and realise its potential contribution to exports and economic activity.
The meeting provided an opportunity for Pakistan to discuss financing requirements across aviation, energy and mining, while both sides agreed to maintain engagement on potential transactions.