Pakistan finance minister discusses US Exim financing for PIA aircraft
An adviser to Pakistan's Finance Minister discussed potential US Export-Import Bank financing for privatised PIA aircraft and other projects during talks in New York on Sunday.
Government denies buying jets
Khurram Schehzad stated that the government is not purchasing any new aircraft for Pakistan International Airlines. He also confirmed there is no sovereign guarantee or taxpayer-funded loan announced for these purchases. This clarification addressed recent social media claims about a minister arranging sovereign-linked financing for the jets.
US Exim role explained
The US Export-Import Bank supports its country's exports and jobs through established financing structures. Schehzad noted that financing can be secured against the aircraft without an automatic sovereign guarantee. The bank assesses the airline or lessee's creditworthiness rather than providing direct government loans.
Other topics discussed
Finance Minister Muhammad Aurangzeb and US Exim Bank Chair John Jovanovich met at the United Nations General Assembly. Their conversation included funding opportunities for procuring an aircraft and upgrades for a refinery. They also reviewed financing options for the Reko Diq copper and gold mining project in Balochistan.
All 2 outlets report consistently
No differences in figures, names or dates across these reports.
- Business Recorder
- Dawn
Reported by
2 independent outlets. Headlines as published. Links open the original report.