Aurangzeb's US Exim talks covered financing for Boeing aircraft, adviser says

Business Recorder reported that Finance Minister Aurangzeb discussed possible financing from the US Export-Import Bank for Boeing aircraft meant for the privatised Pakistan International Airlines. According to his adviser, Khurram Schehzad, the talks also covered refinery upgrades and the Reko Diq project, a copper and gold mining venture in southwestern Balochistan. Schehzad made the remarks in a post on X on Sunday.

The adviser said the government is helping PIA gain access to financing and suppliers, but it is not buying the aircraft itself. He added that no sovereign guarantee or loan funded by taxpayers has been announced.

Schehzad explained that US EXIM could provide financing secured against the planes and would assess how creditworthy the airline or lessee is. A sovereign guarantee, therefore, would not be automatic.