Pakistani ministers hold meeting with Chinese Finance Minister, banking, overall cooperation discussed

Islamabad: Two senior Pakistani ministers held meeting with Chinese Minister of Finance Lan Fo’an top discuss enhanced cooperation.

Senator Muhammad Aurangzeb, Minister for Finance & Revenue and Sardar Awais Ahmad Khan Laghari, Minister for Energy met with Lan Fo’an in Beijing. Pakistani Ambassador to China Khalil Hashmi and other senior officials of the Embassy were also present.

Minister for Finance Muhammad Aurangzeb underscored the special significance of China-Pakistan financial and banking cooperation in the all weather and iron-clad strategic cooperative partnership between the two countries and thanked the Chinese side for its invaluable economic and financial support to Pakistan in time tested way, an official statement issue here said.

He informed the Chinese side about the Government’s economic reform agenda, including the efforts to strengthen tax revenue generation, energy and SOE reforms and achieve sustainable growth. He described the recently concluded agreement between the IMF and Pakistan as an important enabler to execute the reform agenda.

The Minister for Energy outlined the ongoing reforms in the energy sector. He emphasized the government’s resolve to successfully overcome the operational and organizational challenges.

The Minister of Finance of China appreciated the Government of Pakistan’s resolve for a strong economic recovery while assuring China’s continued support to Pakistan’s economic development, including through high-quality development agenda and assured the continued support for Pakistan in the strategic partnership.

He explained the Chinese experience of structural reforms over the last 30 years and suggested that this could be a good example for Pakistan to emulate. Mr Lan emphasized that both countries have a longstanding partnership.

Later, Senator Muhammad Aurangzeb Federal Minister for Finance & Revenue and Sardar Awais Ahmad Khan Laghari Minister for Energy (Power Division) also held a useful meeting with the President of China Export and Credit Insurance Corp (SINOSURE) at its Headquarters and discussed the latest reform agenda of the government of Pakistan.

During the meeting, both ministers lauded SINOSURE’s role in the development of Pakistan, particularly during the first phase of CPEC. They showed confidence that SINOSURE will continue its full support for completing ongoing and new projects under the second phase of China-Pakistan Economic Corridor (CPEC) especially now led by the private sector. President of China Export and Credit Insurance Corp (SINOSURE) welcomed the delegation and reiterated Sinosure’s commitment towards the execution of socio-economic uplift projects under CPEC including B2B projects.