ISLAMABAD, June 3, 2025: Federal Finance Minister, Muhammad Aurangzeb, reiterated the Pakistan’s strong commitment to enhancing regional cooperation within the framework of the Shanghai Cooperation Organization (SCO) during his virtual participation in the recent SCO meeting.
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Addressing the gathering, Aurangzeb expressed his gratitude to the Chinese government for hosting the meeting but explained his absence in Beijing, citing the busy annual budget season in Pakistan.
In his remarks, Aurangzeb highlighted the strategic importance of SCO as a crucial platform for regional cooperation, emphasizing that Pakistan remains dedicated to advancing economic collaboration under the organization’s umbrella.
He also lauded the role of SCO in fostering trade, investment, and financial partnerships among its member states, underscoring the need for collective efforts to address common challenges and opportunities.
The Finance Minister stressed the significance of expanding regional cooperation in key sectors, including transport, energy, and digital infrastructure, to benefit all member countries. He also pointed to the growing importance of the digital economy, financial inclusion, and the role of technology in driving future development.
Aurangzeb suggested that member nations explore joint solutions for global challenges, with an emphasis on sustainable growth and development models.
A significant portion of his address focused on the establishment of an SCO Development Bank. Aurangzeb strongly supported the proposal for this institution, asserting that it would provide a vital avenue for financing regional projects.
He further advocated for the adoption of digital finance, fintech, and green finance within the bank’s framework, aligning with the evolving needs of the global economy.
In addition to his remarks on regional financial cooperation, the Finance Minister also welcomed the proposal for the creation of a Financial Think Tanks Network within the SCO. He noted that such a network would foster intellectual collaboration among member states, helping to guide future policy decisions and economic strategies.
Aurangzeb also took the opportunity to highlight Pakistan’s recent economic progress, citing improvements in key economic indicators and the stabilization of the country’s currency. He emphasized that Pakistan’s ongoing economic reforms and stabilization measures have been well-received by international partners, with Chinese participants at the meeting offering praise for the country’s efforts in these areas.
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In conclusion, Finance Minister Aurangzeb reaffirmed Pakistan’s commitment to strengthening multilateral ties within the SCO framework, with the aim of achieving mutual prosperity and long-term regional stability. He underscored the importance of continued collaboration in advancing economic development, ensuring sustainable growth, and addressing the evolving challenges of the modern world.
