Day: July 16, 2026

Islamabad: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb and Pakistan’s Ambassador to China, Khalil Hashmi on Wednesday reviewed progress on Pakistan-China economic cooperation and discussed measures to attract greater Chinese investment through enhanced business partnerships and financial collaboration.

The Ambassador called on the federal minister here and discussed ways to strengthen business-to-business (B2B) collaboration, particularly for small and medium enterprises (SMEs), by facilitating partnerships with leading Chinese industrial platforms.

The finance minister appreciated Hashmi’s efforts in advancing Pakistan’s economic diplomacy in China and appreciated the embassy’s structured approach to investor engagement, including sector-specific outreach, advance project preparation, and closer coordination between prospective Chinese investors and Pakistani businesses to promote investment opportunities.

He emphasized that attracting quality investment, expanding exports, and promoting private sector collaboration remained central to the Government’s economic agenda.

Aurangzeb appreciated the progress achieved and underscored the importance of translating investment commitments into timely implementation.

He emphasized the need for effective coordination across government institutions to facilitate project execution, enhance investor confidence, and capitalize on emerging opportunities under the Pakistan-China economic partnership.

The discussions also covered expanding cooperation in capital markets, sovereign financing and emerging areas of financial innovation aimed at deepening bilateral economic and financial ties.

Earlier, Ambassador Khalil Hashmi briefed the minister on the embassy’s ongoing engagement with leading Chinese financial institutions and development partners, preparations for future investment roadshows, and opportunities to enhance collaboration with institutions such as the Asian Infrastructure Investment Bank (AIIB) and the Silk Road Fund in support of private sector investment and infrastructure financing.

The Ambassador briefed the Finance Minister on the progress of investment facilitation initiatived being undertaken by Pakistan’s Embassy in Beijing.

He informed that Memoranda of Understanding (MoUs) valued at over US$ 20 billion had been signed between Pakistani and Chinese entities, supported by a dedicated mechanism to monitor implementation.

He noted that a significant number of these commitments had already progressed into formal agreements and commercial arrangements, reflecting encouraging momentum in bilateral investment cooperation.

Ambassador Hashmi further highlighted growing Chinese private sector interest across manufacturing, logistics, pharmaceuticals, biotechnology, textiles, and industrial services.

He said, nine agreements had recently been concluded in the pharmaceutical and biotechnology sectors, while more than 150 Chinese companies were currently being engaged through the Embassy’s investment facilitation platform.

Progress on major Chinese investments in industrial manufacturing, logistics infrastructure, and export-oriented textile projects currently under implementation in Pakistan was also reviewed.

Ambassador Hashmi also apprised the Finance Minister of efforts to align technical and vocational training with new Chinese investments to help develop the skilled workforce required by emerging industries.

They also reviewed measures to strengthen institutional coordination and further improve investment facilitation between the two countries.

Pakistan’s efforts to deepen economic cooperation under the China-Pakistan Free Trade Agreement (CPFTA) were also review and both sides discussed avenues for expanding exports, promoting value-added manufacturing, improving market access for Pakistani products, and encouraging long-term industrial collaboration between the two countries.

Islamabad: The Privatisation Commission (PC) of Pakistan and the Asian Development Bank (ADB) on Wednesday signed the Transaction Advisory Services Agreement (TASA).

Under the agreement, the ADB will serve as the Financial Advisor for the outsourcing of Islamabad International Airport said a press release.

The agreement was signed by Ms. Emma Fan, Country Director, Asian Development Bank, Pakistan Resident Mission, and Shahid Dayo, Director General, Privatisation Commission, on behalf of their respective organizations.

The signing ceremony was witnessed by Adviser to the Prime Minister on Privatisation and Chairman Privatisation Commission, Muhammad Ali; Secretary, Privatisation Commission, Usman Akhter Bajwa; Secretary, Privatisation Division, Hammad Shamimi; Syed Hussain Haider, Deputy Country Director, Asian Development Bank, Pakistan Resident Mission; and senior officials of the Privatisation Commission and the Asian Development Bank.

Under the Agreement, ADB will provide comprehensive transaction advisory services, including technical, financial, legal, environmental, and commercial expertise to support the structuring and implementation of the transaction in accordance with international best practices.

The advisory services will facilitate a transparent, competitive, and market-driven process aimed at attracting leading international airport operators and investors.

The signing of the agreement marks an important milestone in the implementation of the Government’s privatisation programme and reflects its commitment to enhancing the efficiency, service quality, and long-term sustainability of Islamabad International Airport through private sector participation while ensuring transparency, competitiveness, and value for the people of Pakistan.

Islamabad: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, on Wednesday, warned that Pakistan’s future potential could be severely undermined unless the country addresses rapid population growth and climate change, describing both as existential challenges that require sustained policy reforms, institutional coordination and long-term financing.

Addressing the World Population Day 2026 commemorative conference, Aurangzeb said the government’s efforts had evolved from the National Population Stabilisation Plan to the National Population Council, bringing together civil and military leadership, provincial governments and the federation to ensure effective implementation.

“We have known the ‘what’ and the ‘why’ for the longest time. The real question has always been the ‘how’ and the ‘who’,” he said, adding that the council would help deliver results through clear targets, Key Performance Indicators (KPIs) and regular performance reviews.

“You can only deliver what you can measure,” Aurangzeb said, assuring the Health Ministry of the Finance Ministry’s continued support.

He said governments often prepare budgets with short-term priorities in mind, but population growth and climate change demand long-term planning. “If we do not address these two existential issues, then by the time Pakistan completes 100 years in 2047, we are not going to achieve our true potential,” he warned.

Highlighting recent measures, Aurangzeb said the government had removed the sales tax on contraceptives in the federal budget, calling it an important tactical intervention that would improve affordability and produce positive results even in the short term.

He, however, stressed that structural reforms were equally important, particularly the National Finance Commission (NFC) Award formula, where population currently accounts for about 82 percent of resource distribution among provinces.

Calling the existing formula “not sustainable,” he said the population weight in future NFC discussions would have to be reviewed.

On financing, Aurangzeb said budgetary resources alone would not be sufficient. He revealed that the World Bank’s 10-year Country Partnership Framework, signed last year, includes population as one of its three pillars, with a focus on reducing learning poverty-particularly girls out of school-and tackling child stunting.

He said around $600 million to $700 million annually would be available under the framework to finance population-related interventions.

The minister also lauded the nationwide birth-spacing (Waqfa) awareness campaign, describing it as “absolutely brilliant,” and highlighted the media’s role in changing public attitudes. Referring to a recent visit to Karachi, he said he had visited a girls’ school supported by Shehzad Roy’s Zindagi Trust, underscoring the importance of girls’ education.

Drawing lessons from Bangladesh, Iran and Indonesia, Aurangzeb said all three countries reduced their population growth rates to around one percent over 10 to 15 years by focusing on girls’ education, increasing women’s participation in the workforce and securing the support of religious scholars.