Pakistan Seeks US Financing for PIA Boeing 787 Aircraft, Refinery Upgrades and Reko Diq
- Finance Minister Muhammad Aurangzeb discusses aircraft financing with the US Export-Import Bank.
- Refinery upgrades and the Reko Diq mining project are also raised as potential areas for support.
- At a separate dialogue, Aurangzeb outlines Pakistan’s plans for digital payments, worker training and virtual asset regulation.
Finance Minister Muhammad Aurangzeb held talks in New York on Thursday on possible US financing for Pakistan International Airlines, refinery upgrades and the Reko Diq mining project, according to the finance ministry.
In a meeting with US Export-Import Bank Chairman John Jovanovich, Aurangzeb discussed a potential package to help PIA acquire aircraft and engines, including Boeing 787 Dreamliners. The talks also covered spare parts needed to return grounded Boeing 777 aircraft to service.
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The two sides agreed to keep working on a wider cooperation framework while focusing on specific deals, including possible financing for payments due before aircraft delivery. They also identified refinery upgrades as a potential area for bank support.
Aurangzeb stressed Reko Diq’s expected contribution to Pakistan’s exports and the costs of delays to the project. He welcomed what the ministry described as the US Export-Import Bank’s continued commitment to it.
In a separate engagement at the Digital Cooperation Organization’s High-Level Ministerial Dialogue, the finance minister said digital transformation was central to moving Pakistan from economic stabilisation towards sustained growth. He pointed to work on digital public infrastructure and cashless payments, while saying better connectivity must be matched by training that enables freelancers and other digital workers to offer higher-value services.
Discussing the growing use of virtual assets, Aurangzeb outlined Pakistan’s efforts on legislation, oversight and licensing. He cited cheaper, smoother remittances and the possible tokenisation of public debt and real estate as uses beyond cryptocurrency.
