China reaffirms support for Pakistan’s energy reforms, economic development

WEB DESK: High-ranking officials from Pakistan, including Finance Minister Muhammad Aurangzeb and Minister for Power Sardar Awais Ahmad Khan Leghari, engaged in discussions with Chinese authorities regarding the energy sector.

According to a statement from the Finance Division, Senator Muhammad Aurangzeb, Federal Minister for Finance and Revenue, met with China’s Charge d’Affaires Shi Yuanqiang and other representatives from the Embassy of the People’s Republic of China on Thursday.

The meeting also included Minister for Power Sardar Awais Ahmad Khan Leghari, Special Assistant to the Prime Minister on Power Muhammad Ali, and Minister of State for Finance & Revenue Ali Pervaiz Malik.

The statement highlighted that Aurangzeb extended a warm welcome to the Chinese delegation and emphasised the strong bilateral ties between the two nations. He outlined recent positive developments in Pakistan’s economic landscape, including increased foreign exchange reserves, reduced inflation, and improved tax collection.

Aurangzeb also detailed significant government reforms in the energy sector, state-owned enterprises (SOEs), and ongoing privatisation efforts. He emphasised Pakistan’s commitment to attracting increased foreign direct investment (FDI) with a focus on export-led growth.

The longstanding alliance between the countries has been reinforced through Chinese financial support, which has assisted Pakistan in meeting its external financing needs. Aurangzeb recalled his recent visit to China, noting that his discussions with Chinese Finance officials were highly productive and focused on enhancing economic cooperation.

Minister Leghari expressed Pakistan’s deep appreciation for Chinese investment in the energy sector and outlined the government’s efforts to implement reforms aimed at addressing sectoral challenges.

The Charge d’Affaires reiterated China’s commitment to supporting Pakistan’s sustainable economic development. He also noted that the Embassy is collaborating with various departments to coordinate the implementation of agreements made during the Prime Minister’s recent visit to China.

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