Finance minister urges deeper cooperation, innovation, and infrastructure investment across member states
ISLAMABAD — Finance Minister Muhammad Aurangzeb reaffirmed Pakistan’s commitment to strengthening economic ties under the Shanghai Cooperation Organisation (SCO) during a virtual address to SCO finance ministers and central bank governors in Beijing on Tuesday. He called for greater collaboration to boost regional prosperity and sustainable growth.
Aurangzeb emphasized that Pakistan sees the SCO as a key platform for promoting trade, investment, and economic cooperation across member states. He highlighted Pakistan’s alignment with the SCO Charter and the “Shanghai Spirit,” adding that collective action was essential to tackle global economic challenges.
The finance minister backed proposals for joint ventures, technology sharing, and capacity-building programs among member countries. He also stressed the importance of digital transformation and financial inclusion to ensure equal development and stronger regional integration.
Strongly supporting the idea of an SCO Development Bank, Aurangzeb said such an institution could drive investment in regional infrastructure, including transport, energy, and digital connectivity. He urged the bank to focus on innovation, digital finance, and eco-friendly financial practices to meet modern development needs.
Moreover, Aurangzeb welcomed the proposal to activate the SCO Network of Financial Think Tanks, seeing it as a valuable platform for policy research and strategic planning. He also shared updates on Pakistan’s recent economic reforms, including measures to stabilize the currency, reduce deficits, and boost investor confidence.
Earlier, Chinese officials praised Pakistan’s progress and applauded the government’s commitment to economic reform and regional cooperation. They expressed confidence in Pakistan’s continued role in shaping the SCO’s economic vision.