Muhammad Aurangzeb Meets Chinese Vice Minister of Finance

CT Report 

WASHINGTON: Finance Minister Muhammad Aurangzeb met with Mr. Liao Min, Vice Minister of Finance of China, to reaffirm the all-weather strategic cooperative partnership between Pakistan and China. Minister Aurangzeb expressed gratitude for China’s unwavering support of Pakistan’s socio-economic development, including assistance in securing the IMF’s Extended Fund Facility (EFF).

He highlighted Pakistan’s eagerness to learn from China's economic reform experience and welcomed BYD’s decision to introduce electric vehicles in the country. Aurangzeb also announced the government's plan to launch an inaugural Panda bond in the Chinese market to diversify its financing base.

The Finance Minister committed to providing foolproof security for Chinese workers in Pakistan. Vice Minister Liao noted that many Chinese companies are keen to expand their investments and increase employment opportunities in Pakistan.

Aurangzeb requested an increase in the limits under the Currency Swap Agreement to CNY 40 billion. Both sides emphasized the importance of online payment settlements and the integration of the payment systems between the two nations.