Islamabad, AUGUST 11: Pakistan’s Finance Minister, Senator Muhammad Aurangzeb, and Minister for Power, Sardar Awais Ahmad Khan Leghari, had high-level talks with Chinese authorities to discuss the issues facing the country’s energy industry.
According to specifics, Minister Aurangzeb greeted the Chinese group and emphasized Pakistan and China’s strong and long-lasting partnership. He outlined the recent improvements in Pakistan’s economy, such as increased tax collection, decreased inflation, and a rise in foreign exchange reserves. In order to spur economic growth, the minister reaffirmed the government’s commitment to pursuing privatization initiatives and enacting major reforms in state-owned enterprises (SOEs).
Pakistan’s request for China to reprofile the debt associated with its power sector was a major topic of controversy. As the cornerstone of Pakistan’s economic strategy, Aurangzeb underlined the nation’s commitment to attracting more foreign direct investment (FDI) and stressed the need of export-led growth.
In addition, Minister Leghari acknowledged the vital role China’s large investment in Pakistan’s energy industry plays in the nation’s development and expressed his sincere gratitude for it. He described the continuous reforms being carried out by the government to guarantee the energy sector’s long-term sustainability and to address enduring issues.
China’s Chargé d’Affaires Shi Yuanqiang responded by restating Beijing’s commitment to advancing Pakistan’s economic growth. He mentioned that in order to guarantee the accomplishment of agreements made during recent high-level visits, the Chinese Embassy was actively liaising with pertinent departments in both nations.
With an emphasis on a project-by-project strategy, Pakistan’s Finance Minister Aurangzeb revealed last month that the country has started talks with China on refinancing its energy sector debt. In order to streamline this intricate procedure, he continued, Pakistan plans to designate a local advisor in China.
