FinMin Aurangzeb reiterates expediting work on CPEC’s phase II

Finance Minister Muhammad Aurangzeb held discussions with his Chinese counterpart Lan Foan in Washington on Friday, focusing on bilateral cooperation and economic ties between the two nations.

During the meeting, Muhammad Aurangzeb reaffirmed the Pakistani government's commitment to expediting the second phase of the China-Pakistan Economic Corridor (CPEC). He also commended China for its significant contributions to Pakistan's development, particularly in various infrastructure projects.

Expressing condolences over the recent terrorist attack on Chinese citizens in Shangla, Aurangzeb condemned the incident and pledged support to the Chinese government.

He also expressed gratitude for China's support for Pakistan in various international forums and sought China's backing in the ongoing negotiations for an International Monetary Fund (IMF) program.

China's Finance Minister Lan Foan indicated plans to launch Panda Bonds during the fiscal year 2025-26.

The meeting concluded with both ministers agreeing on the importance of continued cooperation in international organizations, underscoring the strong partnership between Pakistan and China.