Finance minister addresses SCO meeting

ISLAMABAD: Finance Minister Muhammad Aurangzeb reiterated Pakistan’s stance of increasing regional cooperation under Shanghai Spirit, in his virtual address to the Shanghai Cooperation Organisation (SCO) meeting.

He thanked the Chinese government for hosting the meeting, and explained that he could not be at Beijing to attend the meeting due to the annual budget season in Pakistan.

“SCO is an effective regional cooperation platform for Pakistan,” Aurangzeb said, adding that “Pakistan is committed to strengthening economic cooperation within the framework of SCO.”

Finance minister also commended SCO’s role in promoting trade, investment and financial cooperation among member countries. He also supported the joint projects, technology transfer and capacity building opportunities among the member countries.

Finance Minister Aurangzeb placed special emphasis on the importance of digital economy and financial inclusion, as well as the need for joint solutions to global challenges and development models.

He also maintained that promoting regional cooperation in transport, energy and digital infrastructure is important for SCO member countries.

He shared Pakistan’s viewpoint on association’s bank proposal, saying that we strongly support the establishment of SCO Development Bank.

He also proposed that the SCO Development Bank should adopt digital finance, fintech and green finance. He also welcomed the proposal of Financial Think Tanks Network within the SCO framework.

Finance Minister Aurangzeb reiterated that Pakistan is committed to promoting sustainable development and mutual benefit in the region under SCO.

He also highlighted improvement in Pakistan’s economic indicators and currency stability. The Chinese members of the meeting also appreciated Pakistan’s economic reforms and stabilization measures.

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