Pakistan Commends China’s Role in Development Initiatives During Finance Ministers’ Meeting

Islamabad, During a meeting in Washington D.C. with his Chinese counterpart Lan Fo’an, Pakistan’s Finance Minister Muhammad Aurangzeb expressed appreciation for China’s substantial contributions to Pakistan’s development through the China-Pakistan Economic Corridor (CPEC) and other supports at international financial platforms.

According to Ministry of Information and Broadcasting, the discussion between the two finance ministers highlighted the ongoing success and future phases of CPEC. Minister Aurangzeb emphasized that the next stage of CPEC will focus on monetizing assets, operationalizing Special Economic Zones (SEZs), and facilitating the relocation of Chinese privately-owned companies to Pakistan.

Additionally, the Finance Minister acknowledged the strategic economic support from China, including SAFE deposits and their regular roll-overs, which have significantly helped Pakistan in managing its external financing needs.

During the meeting, Aurangzeb also briefed Minister Lan Fo’an on Pakistan’s current economic strategies, which include broadening the tax base, addressing challenges in the energy sector, and overhauling state-owned enterprises (SOEs). This engagement underscores the deep financial and strategic cooperation between Pakistan and China, aiming to strengthen economic stability and development in Pakistan.