Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, repeated Pakistan’s unwavering obligation to promote regional economic cooperation at the Shanghai Cooperation Organization (SCO) Finance Ministers and Central Bank’s governors meeting in Beijing on Tuesday.
The virtual address highlighted Pakistan’s ongoing dedication to promoting economic stability, prosperity and development within the SCO framework.
Senator Aurangzeb confirmed Pakistan’s active role within SCO and emphasized its importance as an important platform to improve economic ties between Member States.
He praised SCO’s growing influence in regional development, trade and investment.
Aurangzeb also expressed gratitude to China to host the high -level collection and stressed Pakistan’s support for proposals aimed at increasing joint projects, technology transfer and capacity building programs.
He highlighted the role of digital economy and financial inclusion in driving growth and meeting the need for collaborative measures on global challenges such as climate change, economic slowdowns and expansion of inequalities. The Minister also called for inclusive development models to ensure sustainable results for all SCO members.
Supporting the creation of a SCO development bank went on Senator Aurangzeb to a focus on infrastructure financing, regional integration and sustainable economic practice.
He expressed optimism that the proposed bank would prioritize digital financing, fintech solutions and environmental responsible investments.
Finally, Senator Aurangzeb Pakistan’s financial reforms and results emphasized, especially when stabilizing the currency, reducing the deficit for ongoing account and increasing the investor’s confidence. China’s Finance Minister and Governor of People’s Bank of China congratulated Pakistan for its progress and ongoing obligation to regional integration during SCO.
