NEW YORK: Finance Minister Muhammad Aurangzeb met with Boeing Global President Dr. Brendan Nelson on the sidelines of the 81st Session of the United Nations General Assembly to discuss the modernization of Pakistan International Airlines' fleet, as the national carrier looks to acquire new aircraft and explore options for faster deliveries.
The meeting addressed PIA's fleet modernization plans and broader cooperation in Pakistan's aviation sector, according to a statement. Aurangzeb welcomed Boeing's confirmation that it would share a revised proposal with PIA for the acquisition of new aircraft, while both sides agreed to explore earlier delivery slots and interim leasing arrangements.
Discussions also covered potential financing support from the U.S. Export-Import Bank, along with engine procurement, spare parts, and maintenance and restoration of grounded aircraft.
Aurangzeb outlined PIA's privatization process and plans to outsource management of major airports. He praised Boeing's support for aviation-safety capacity building, regulatory engagement and efforts to restore direct flights between Pakistan and the United States, while stressing the country's long-term aviation growth potential.
In a separate meeting, the finance minister met with a representative of Abbott's Pharmaceuticals Division to discuss implementation of Pakistan's Hepatitis C elimination program and broader pharmaceutical sector issues.
Aurangzeb voiced concern over the slow pace of the hepatitis program, noting that only about 100,000 of the roughly 3 million procured diagnostic tests had been used. He attributed the shortfall to leadership turnover, weak project management and limited public awareness.
He welcomed Abbott's offer of technical assistance drawn from its experience supporting Egypt's large-scale screening program. The two sides also discussed improvements to the Drug Regulatory Authority of Pakistan's regulatory capacity, diversification of pharmaceutical exports, Abbott's plans for oncology treatment, and delays in resolving hardship medicine-pricing cases.
Aurangzeb said the government must balance affordability with commercial viability and supply continuity, and pledged to raise the hepatitis program's implementation issues with relevant authorities in Pakistan to speed up progress.
The finance minister also took part in a U.N.-hosted "Solutions Dialogue on Climate Finance," where he highlighted Pakistan's acute vulnerability to climate change. He said the government bears responsibility for establishing credible adaptation and disaster-response frameworks, early-warning systems, climate strategies and a pipeline of bankable projects.
Aurangzeb said climate resilience must begin with domestic macroeconomic stability and adequate fiscal and external buffers, with international support complementing national resources rather than replacing them. He described Pakistan's diversified financing approach, which combines domestic resources with assistance from the World Bank and the International Monetary Fund's Resilience and Sustainability Facility, access to capital markets through green instruments, and partnerships with private investors.
He also expressed concern over the slow operationalization of the Loss and Damage Fund and urged the Green Climate Fund and other international institutions to simplify accreditation, approval and disbursement procedures so vulnerable countries can access climate finance more efficiently.
