Pakistan and China Reinforce Economic Ties in Recent Ministerial Meeting

Islamabad: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, convened with Mr. Shi Yuanqiang, Charge D’affaires of the Embassy of People’s Republic of China, and other Chinese officials this Thursday to discuss strengthening economic cooperation between the two nations.

According to Ministry of Finance announcement issued on 09 August 2024, the meeting, also attended by Minister for Power Sardar Awais Ahmad Khan Leghari, Special Assistant to the Prime Minister on Power Mr. Muhammad Ali, and Minister of State for Finance and Revenue Mr. Ali Pervaiz Malik, focused on advancing bilateral relations and enhancing economic collaboration.

Minister Aurangzeb highlighted Pakistan’s recent economic improvements such as increased foreign exchange reserves, reduced inflation, and better tax collection. He also detailed reforms in the energy sector and efforts toward privatization, emphasizing Pakistan’s commitment to fostering an export-led growth environment and attracting more foreign direct investment.

The discussions also built on the recent visit of Senator Aurangzeb to China, where he engaged with his counterpart and other Chinese officials on proposals to boost economic ties. Minister Leghari expressed appreciation for China’s investments in Pakistan’s energy sector and discussed ongoing reforms aimed at resolving existing challenges in this area.

Mr. Shi Yuanqiang affirmed China’s commitment to supporting Pakistan’s sustainable economic development, noting ongoing collaborations following the recent Prime Ministerial visit to China.

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