Boeing, Pakistan discuss PIA fleet modernisation, earlier aircraft deliveries

Finance Minister Muhammad Aurangzeb discussed PIA’s fleet modernisation with Boeing Global President Dr Brendan Nelson, as the airline looks to acquire new aircraft and explore options to accelerate deliveries.

Aurangzeb met Nelson during his visit to attend the 81st Session of the United Nations General Assembly (UNGA).

The meeting discussed PIA’s fleet modernisation and broader cooperation in Pakistan’s aviation sector.

The finance minister welcomed Boeing’s confirmation that a revised proposal for the acquisition of new aircraft would be shared with PIA, while options for earlier delivery slots and interim leasing arrangements would also be explored.

The discussion covered financing support from the US Export-Import Bank, engine procurement, spare parts, maintenance and restoration of grounded aircraft.

The finance minister outlined PIA’s privatisation and plans to outsource the management of major airports. He appreciated Boeing’s support for aviation-safety capacity, regulatory engagement and the restoration of direct flights to the United States, while underscoring Pakistan’s strong long-term aviation growth potential.

Aurangzeb highlights energy security as key to economic resilience

In a separate meeting with a representative of Abbott’s Pharmaceuticals Division, the finance minister discussed the implementation of Pakistan’s Hepatitis C elimination programme and broader issues relating to the pharmaceutical sector.

The finance minister expressed concern over the programme’s slow progress, noting that only around 100,000 of the approximately three million procured diagnostic tests had been utilised, which was attributable to leadership turnover, inadequate project management and limited public awareness.

He appreciated Abbott’s technical assistance based on its experience supporting Egypt’s large-scale screening programme. The meeting also covered improvements in DRAP’s regulatory capacity, pharmaceutical export diversification, Abbott’s plans for oncology treatment, and delays in resolving hardship medicine-pricing cases.

Aurangzeb acknowledged the need to balance affordability with commercial viability and continuity of supply, and undertook to raise the programme’s implementation issues with the relevant authorities in Pakistan to expedite progress.

The finance minister also participated in the UN-hosted “Solutions Dialogue on Climate Finance”, where he highlighted Pakistan’s acute vulnerability to climate change and emphasised the government’s responsibility to establish credible adaptation and disaster-response frameworks, early-warning systems, climate strategies and a pipeline of bankable projects.

Aurangzeb stressed that climate resilience must begin with domestic macroeconomic stability and adequate fiscal and external buffers, while international support should complement national resources. He outlined Pakistan’s diversified financing approach, combining domestic resources with assistance from the World Bank and the IMF’s Resilience and Sustainability Facility, access to capital markets through green instruments, and partnerships with private investors.

The finance minister expressed concern over the slow operationalisation of the Loss and Damage Fund and urged the Green Climate Fund and other international institutions to simplify their accreditation, approval and disbursement procedures so that vulnerable countries could access climate finance more efficiently.