Pakistan's Finance Minister Discusses US Financing for PIA, Refinery Upgrades and Reko Diq

Pakistan's Finance Minister, Senator Muhammad Aurangzeb, held discussions in New York this week to explore US financing options for several major national projects, including the state carrier Pakistan International Airlines (PIA), refinery upgrades and the Reko Diq mining project.

According to a press release issued by Pakistan's finance ministry on Thursday, Aurangzeb discussed potential financing opportunities with representatives of the US Export-Import Bank during his engagements in the city.

The talks form part of the finance minister's broader outreach to US financial institutions aimed at securing funding for infrastructure and industrial modernization efforts in Pakistan. PIA has been the subject of ongoing restructuring efforts, while the country's refining sector has faced calls for upgrades to meet modern fuel standards.

Reko Diq, a large copper-gold mining project in Balochistan province, has also been a focus of Pakistan's efforts to attract international investment in its mining and minerals sector.

The finance ministry's statement did not specify a timeline for any financing agreements or the scale of funding under discussion. The outreach reflects Islamabad's continued efforts to diversify its sources of external financing amid broader economic reform priorities, though the ministry did not indicate whether any formal commitments were reached during the New York meetings.