ISLAMABAD: Federal Minister for Finance and Revenue Muhammad Aurangzeb has reaffirmed Pakistan’s strong commitment to the Shanghai Cooperation Organisation (SCO) economic agenda, advocating for deeper regional cooperation in trade, investment, and financial integration.
Addressing the SCO Finance Ministers and Central Bank Governors meeting virtually from Islamabad due to the ongoing budget session, Aurangzeb emphasized Pakistan’s alignment with the “Shanghai Spirit” and called for joint ventures, technology transfer, and capacity-building programs among member states.
A key highlight was Pakistan’s strong endorsement of the proposed SCO Development Bank, which Aurangzeb described as crucial for infrastructure financing and regional connectivity. He envisioned the bank incorporating digital finance, fintech innovation, and green financing to support sustainable development.
The minister also showcased Pakistan’s economic turnaround, citing current account surplus, fiscal discipline, exchange rate stability, and credit rating upgrades as outcomes of ongoing reforms. He highlighted digital initiatives like Roshan Digital Accounts as successful models for financial inclusion.
Aurangzeb urged collective action to address global challenges like inequality and climate change, stressing that SCO nations must share policy insights to ensure equitable and sustainable growth.