Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, continued his high-level engagements on the third day of his visit to New York to attend the 81st Session of the United Nations General Assembly, alongside the Prime Minister of Pakistan. He engaged with international partners on digital transformation, aviation, refinery modernization and the Reko Diq mining project.
As part of his engagements during the day, the Finance Minister participated in the Digital Cooperation Organization’s High-Level Ministerial Dialogue, where he described digital transformation as a key part of Pakistan’s transition from economic stabilization to sustainable growth. He highlighted the development of digital public infrastructure and cashless payments, while stressing that connectivity must be accompanied by upskilling and reskilling to help freelancers and other digital workers move into higher-value services.
Noting the widespread adoption of virtual assets, Senator Muhammad Aurangzeb outlined Pakistan’s work on legislation, oversight and licensing, and emphasized practical uses beyond cryptocurrency, including cheaper and more seamless remittances and the potential tokenization of public debt and real estate. He called for closer collaboration among DCO member states to share successful approaches and attract investment in the digital economy.
The Finance Minister also held a meeting with the Chair of the US Export-Import Bank, Mr. John Jovanovich, where discussions focused on financing opportunities for procurement of aircraft for Pakistan International Airlines (PIA), refinery upgrades and the Reko Diq mining project.
Senator Muhammad Aurangzeb outlined PIA’s interest in Boeing aircraft, particularly 787 Dreamliners, and sought support for a financing package covering aircraft and engines. He also raised the need for spare parts to return grounded Boeing 777 aircraft to service.
Both sides agreed that work on a broader cooperation framework should continue while prioritizing specific transactions, including possible financing for aircraft pre-delivery payments. Refinery upgrades were also identified as another potential area for US EXIM Bank support.
On Reko Diq, the Finance Minister emphasized the project’s importance to Pakistan’s future exports and the cost of delays, and welcomed US EXIM Bank’s continued commitment to the project.
The Finance Minister’s engagements highlighted Pakistan’s focus on advancing digital transformation, strengthening international economic cooperation and mobilizing financing for key sectors, including aviation, refining and mining, while pursuing practical opportunities for cooperation and investment.
