The Federal Minister of Finance and Income, Senator Muhammad Aurengzeb, reiterated the unwavering commitment of Pakistan to promote regional economic cooperation in the finance ministers of the Shanghai Cooperation Organization (SCO) and the governors of central banks that meet in Beijing on Tuesday.
The virtual management highlighted the continuous dedication of Pakistan to advance economic stability, prosperity and development within the SCO framework.
Senator Aurengzeb reaffirmed the active role of Pakistan within the SCO, underlining its importance as a vital platform to improve economic ties between member states.
He praised the growing influence of the SCO on regional development, commerce and investment.
Aurengzeb also expressed his gratitude to China for organizing the high -level meeting and emphasizing Pakistan’s support for proposals aimed at promoting joint projects, technology transfer and capacity construction programs.
He highlighted the role of the digital economy and financial inclusion to boost growth and addressed the need for collaborative action in global challenges such as climate change, economic decelerations and the expansion of inequalities. The minister also requested inclusive development models to guarantee sustainable results for all OCS members.
Supporting the creation of a development bank SCO, Senator Aurengzeb advocated an approach to infrastructure financing, regional integration and sustainable financial practices.
He expressed optimism that the proposed bank would prioritize digital finances, Fintech solutions and environmentally responsible investments.
To conclude, Senator Aurengzeb stressed the reforms and economic achievements of Pakistan, particularly in the stabilization of the currency, reducing the deficit of the current account and increasing the confidence of investors. China’s Minister of Finance and the Governor of the Popular Bank of China congratulated Pakistan for their progress and continuous commitment to regional integration under the SCO.
