Pakistan Seeks US EXIM Financing for Boeing Aircraft
Pakistan's Finance Minister, Muhammad Aurangzeb, recently discussed potential US Export-Import Bank financing for Boeing aircraft for several key projects. According to his adviser, Khurram Schehzad, these discussions covered financing for Boeing aircraft that PIA might use after privatization.
Schehzad clarified that the government is assisting PIA in accessing financing and suppliers but emphasized that it is not purchasing any aircraft outright. He stated that US EXIM could secure financing against the aircraft and assess the airline's or lessee's creditworthiness, which would eliminate the need for a sovereign guarantee.
The potential funding also includes refinery upgrades and the Reko Diq project in southwestern Balochistan, a copper and gold mining venture. Schehzad explained that the government is helping PIA with financing but clarified that no sovereign guarantees or taxpayer-funded loans have been announced.