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Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, reiterated Pakistan’s unwavering commitment to fostering regional economic cooperation at the Shanghai Cooperation Organization (SCO) Finance Ministers and Central Bank Governors meeting in Beijing on Tuesday.
The virtual address highlighted Pakistan’s ongoing dedication to advancing economic stability, prosperity, and development within the SCO framework.
Senator Aurangzeb reaffirmed Pakistan’s active role within the SCO, underlining its importance as a vital platform for enhancing economic ties among member states.
He commended the SCO’s growing influence in regional development, trade, and investment.
Aurangzeb also expressed gratitude to China for hosting the high-level gathering and stressed Pakistan’s support for proposals aimed at boosting joint projects, technology transfer, and capacity-building programs.
He highlighted the role of digital economy and financial inclusion in driving growth and addressed the need for collaborative action on global challenges such as climate change, economic slowdowns, and widening inequalities. The minister also called for inclusive development models to ensure sustainable outcomes for all SCO members.
Supporting the creation of an SCO Development Bank, Senator Aurangzeb advocated for a focus on infrastructure financing, regional integration, and sustainable financial practices.
He expressed optimism that the proposed bank would prioritise digital finance, fintech solutions, and environmentally responsible investments.
In closing, Senator Aurangzeb underscored Pakistan’s economic reforms and achievements, particularly in stabilising the currency, reducing the current account deficit, and boosting investor confidence. China’s Finance Minister and the Governor of the People’s Bank of China congratulated Pakistan for its progress and ongoing commitment to regional integration under the SCO.
