NEW YORK: Pakistan has asked the U.S. Export-Import Bank to help finance Pakistan International Airlines' planned aircraft purchases, including Boeing 787 Dreamliners, and to support upgrades at the country's refineries, Finance Minister Muhammad Aurangzeb said during meetings in New York.
Aurangzeb met with John Jovanovich, chair of the bank, on the third day of his visit to attend the 81st session of the U.N. General Assembly with Prime Minister Shehbaz Sharif. The talks also covered the Reko Diq mining project, according to a statement.
Aurangzeb told Jovanovich that PIA is interested in Boeing aircraft, particularly the 787, and asked for a financing package covering both planes and engines. He also raised the need for spare parts to return grounded Boeing 777 aircraft to service.
The two sides agreed to continue work on a broader cooperation framework while prioritizing specific transactions, including possible financing for pre-delivery payments on aircraft. Refinery upgrades were identified as another potential area for U.S. Export-Import Bank support.
On Reko Diq, Aurangzeb stressed the project's importance to Pakistan's future exports and the cost of delays. He welcomed the bank's continued commitment to the project.
The statement said the meetings reflected Pakistan's focus on digital transformation, stronger international economic cooperation and mobilizing financing for aviation, refining and mining.
Earlier, Aurangzeb discussed PIA's fleet modernization with Brendan Nelson, Boeing's global president, as the airline looks to acquire new aircraft and find ways to speed up deliveries.
Aurangzeb welcomed Boeing's confirmation that it would share a revised proposal for new aircraft with PIA. Options for earlier delivery slots and interim leasing arrangements will also be explored.
