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Govt not buying PIA aircraft or giving loan guarantees, says finance adviser

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Animated editorial illustration for: Govt not buying PIA aircraft or giving loan guarantees, says finance adviser
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At a glance

  • Finance Minister discussed potential US EXIM Bank financing for Boeing jets for privatised PIA.
  • Adviser clarifies govt is not buying aircraft or providing sovereign guarantees.
  • Financing would be asset-backed, secured against the aircraft themselves.

Story so far

Pakistan's Finance Minister Muhammad Aurangzeb met with the US Export-Import (EXIM) Bank to discuss potential financing for Boeing aircraft for the recently privatised PIA, among other projects. Following the meeting, the minister's adviser clarified the government's role, stating no public funds or guarantees would be used for the purchase.

Latest development

Adviser to the Finance Minister Khurram Schehzad has clarified that the government is not purchasing aircraft for the privatised Pakistan International Airlines (PIA) and will not provide any sovereign guarantees for financing.

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Usama MehboobUsama MehboobEditor
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