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Latest News - August 9, 2024

Pakistan, China discuss energy sector reforms

August 9, 2024

High-level officials from Pakistan, including Finance Minister Muhammad Aurangzeb and Minister for Power Sardar Awais Ahmad Khan Leghari, held discussions with Chinese authorities on the energy sector. During a meeting with China’s Charge D’affaires Shi Yuanqiang, Aurangzeb emphasized Pakistan’s strong bilateral ties with China, highlighted economic improvements, and discussed reforms in the energy sector and state-owned enterprises. He also mentioned Pakistan’s commitment to export-led growth and attracting foreign direct investment. Leghari expressed appreciation for Chinese investment in Pakistan’s energy sector, while the Chinese side reiterated support for Pakistan’s sustainable economic development. The meeting also addressed Pakistan’s efforts to reprofile its power sector debt to China.

ISLAMABAD, Aug 9 (APP):Federal Minister for Finance & Revenue Muhammad Aurangzeb here on Friday highlighted recent positive developments in economic landscape, including increased foreign exchange reserves, decreased inflation, and enhanced tax collection.
During a meeting with Charge D’affaires of the Embassy of People’s Republic of China, Shi Yuanqiang and other officials of the Embassy, the minister outlined significant reforms in the energy sector, state-owned enterprises (SOEs), and ongoing privatization efforts.
Minister for Power Sardar Awais Ahmad Khan Leghari; Special Assistant to Prime Minister on Power, Muhammad Ali and Minister of State for Finance and Revenue, Ali Pervaiz Malik also attended the meeting.
According to the press release issued by finance ministry, while emphasizing a focus on export-led growth, the minister expressed Pakistan’s commitment to attracting increased
foreign direct investment (FDI).
Recalled his recent visit to China, Aurangzeb said he had extremely useful discussions with the Minister for Finance and other officials on proposals for enhancing economic cooperation between the two countries.
Aurangzeb also underscored the strong bilateral relationship between the two nations, the press release added.
Minister of Power Sardar Awais Ahmad Khan Leghari said that the government greatly appreciates the Chinese investment in the energy sector of Pakistan, adding it was implementing a number of reforms to address the issues in the energy sector.
On the occasion, the Chargé d’affaires reiterated the Chinese government’s commitment to support Pakistan’s sustainable economic development.
He said that the Embassy was working with various departments on both sides to coordinate implementation of the understandings reached during Prime Minister’s visit to China.
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