Pakistan seeks US EXIM financing for PIA aircraft, refineries
Finance Minister Muhammad Aurangzeb raised the request with US Export-Import Bank Chair John Jovanovich during UN General Assembly meetings in New York.
Pakistan has asked the United States Export-Import Bank to finance Pakistan International Airlines' planned purchase of Boeing 787 Dreamliners and to support refinery modernisation, Finance Minister Muhammad Aurangzeb said during meetings in New York on the third day of his visit for the 81st session of the United Nations General Assembly.
Aurangzeb, who is in New York alongside Prime Minister Shehbaz Sharif, met US Export-Import Bank Chair John Jovanovich. According to Business Recorder, the meeting focused on financing opportunities for PIA aircraft procurement, refinery upgrades and the Reko Diq mining project. The finance minister outlined PIA's interest in Boeing aircraft, particularly 787 Dreamliners, and sought 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 prioritising specific transactions, including possible financing for aircraft pre-delivery payments. Refinery upgrades were identified as another potential area for US Export-Import Bank support. On Reko Diq, Aurangzeb emphasised the project's importance to Pakistan's future exports and the cost of delays, and welcomed the bank's continued commitment to the project.
Earlier, Aurangzeb discussed PIA's fleet modernisation with Boeing Global President Dr Brendan Nelson. Boeing confirmed that a revised proposal for the acquisition of new aircraft would be shared with PIA, while options for earlier delivery slots and interim leasing arrangements would be explored, Business Recorder reported.
Aurangzeb also participated in the Digital Cooperation Organization's High Level Ministerial Dialogue, where he discussed digital public infrastructure, cashless payments, workforce skills and Pakistan's approach to virtual assets, ProPakistani reported. He said digital transformation was important for Pakistan's transition from economic stabilisation to sustainable growth and called for greater cooperation among DCO member states.
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