The Pakistani Minister of Finance, Muhammad Aurangzeb, discussed with the President of the Export-Import Bank of the United States, John Yovanovitch, in New York, the possibility of providing financing to purchase Boeing aircraft for the benefit of Pakistan International Airlines, in addition to supporting vital projects that include modernizing oil refineries and the “Rico Deck” project for copper and gold mining.
Pakistan International Airlines showed special interest in the Boeing 787 Dreamliner aircraft, and requested Islamabad to support an integrated financing package that includes aircraft and engines. The talks also dealt with providing the necessary spare parts to return the parked Boeing 777 aircraft to service, and discussing the possibility of financing advance payments for new purchase deals.
In the same context, Advisor to the Minister of Finance, Khurram Shehzad, confirmed that the government is working to help the airline in facilitating access to financing sources and suppliers, explaining that the state does not undertake the purchase of aircraft directly, and has not announced the provision of any sovereign guarantee or loans financed by taxpayer money.
At the conclusion of the meeting, the two sides agreed to continue coordination to formulate a broader framework for bilateral cooperation, while giving priority to a number of specific deals, most notably the aviation sector, the modernization of refineries, and the “Rico Deck” project, which Islamabad is counting on to enhance the volume of its exports in the future.
