At the Shanghai Cooperation Organization (SCO) Finance Ministers and Central Bank Governors meeting held virtually in Beijing on Tuesday, Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb reiterated Pakistan’s strong dedication to promoting regional economic cooperation.
In his address, Senator Aurangzeb emphasized Pakistan’s continuous efforts to advance economic stability, prosperity, and development within the SCO framework. He highlighted Pakistan’s proactive engagement in the organization, recognizing the SCO as a crucial platform for strengthening economic relations among member countries.
He praised the increasing role of the SCO in fostering regional development, trade, and investment opportunities. Senator Aurangzeb also thanked China for hosting the summit and voiced Pakistan’s support for initiatives aimed at enhancing joint projects, technology transfer, and capacity-building efforts.
The minister stressed the significance of the digital economy and financial inclusion in driving growth and called for collaborative approaches to tackle global challenges such as climate change, economic slowdowns, and rising inequalities. He further advocated for inclusive development models to achieve sustainable benefits for all SCO members.
Supporting the idea of establishing an SCO Development Bank, Senator Aurangzeb highlighted the importance of infrastructure financing, regional integration, and sustainable financial practices. He expressed hope that the bank would focus on digital finance, fintech innovations, and environmentally conscious investments.
Concluding his remarks, the minister showcased Pakistan’s recent economic reforms and successes, including currency stabilization, reduction of the current account deficit, and enhanced investor confidence. China’s Finance Minister and the Governor of the People’s Bank of China commended Pakistan for its progress and steadfast commitment to regional integration under the SCO.
