Pakistan seeks financing to purchase Boeing Dreamliners
Pakistan has sought financing from the U.S. Export-Import Bank (EXIM) to support Pakistan
International Airlines’ (PIA) planned aircraft purchases, including Boeing 787
Dreamliners, as well as upgrades to the country’s oil refineries.
Finance Minister Muhammad Aurangzeb raised the proposals during
a meeting with EXIM Bank Chairman John Jovanovich in New York on the sidelines
of the 81st session of the United Nations General Assembly.
According to an official statement, the discussions covered
financing options for PIA’s fleet expansion and modernization, refinery
upgrades and the Reko Diq mining project.
Aurangzeb told the EXIM Bank chairman that PIA was interested in
acquiring Boeing aircraft, particularly 787 Dreamliners, and requested a
financing package covering both aircraft and engines. He also highlighted the
need for spare parts to help bring grounded Boeing 777 aircraft back into
service.
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The two sides agreed to continue developing a broader framework
for cooperation while focusing on specific transactions. These could include
potential EXIM Bank financing for pre-delivery payments associated with PIA’s
aircraft purchases.
Refinery modernization was also identified as a potential area
for U.S. EXIM Bank support, with Pakistan seeking greater access to financing
for upgrades aimed at strengthening the country’s energy infrastructure.
The meeting also covered the Reko Diq mining project. Aurangzeb
highlighted the project's importance to Pakistan’s future export earnings and
emphasized the economic cost of delays. He welcomed the EXIM Bank’s continued
commitment to the project.
The finance minister's meetings formed part of Pakistan’s
broader efforts to attract international financing and strengthen economic
cooperation in key sectors, including aviation, mining, refining and digital
transformation.
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Earlier, Aurangzeb met Boeing Global President Brendan Nelson to
discuss PIA’s fleet modernization plans. During the meeting, the minister
welcomed Boeing’s commitment to provide the airline with a revised proposal for
new aircraft.
The discussions are also expected to explore options for
securing earlier aircraft delivery slots and interim leasing arrangements to
help address PIA’s near-term fleet requirements while new aircraft are being
procured.
Source:
Bol News