ITFC to provide $3b in commodity financing to Pakistan

WASHINGTON: The International Islamic Trade Finance Corporation (ITFC) has announced to provide $3 billion in commodity financing to Pakistan over three years, immediately followed by direct financing of $269 million.

Finance Minister Muhammad Aurangzeb expressed his gratitude to IFTC for providing commodity financing to Pakistan for three years.

Earlier, Federal Finance Minister Muhammad Aurangzeb also met Assistant Secretary for Economic and Business Affairs Amy Holman of the US Department of State.

In this meeting held in Washington DC, the Finance Minister recognized the importance of Pakistan-US economic partnership in the socio-economic development of Pakistan and thanked the US for its support.

In the meeting, the finance minister identified investment opportunities in agriculture, IT, energy, and mining sectors and invited American companies to invest in these sectors.

In an address to a think tank in Washington, Federal Finance Minister Muhammad Aurangzeb said that policies are being made regarding the reduction of government expenditure and reforms in various sectors.

He said that the Pakistani rupee is getting stronger and remittances are improving.

It should be noted that Federal Finance Minister Muhammad Aurangzeb is in America with a delegation to participate in the annual meetings of World Bank and International Monetary Fund(IMF) in Washington.

Also Read

Finance Minister departs for US to attend IMF, WB meetings

ISLAMABAD: Federal Minister of Finance and Revenue, Senator Muhammad Aurangzeb departed for...

Earlier, Federal Minister of Finance and Revenue, Senator Muhammad Aurangzeb departed for the United States to participate in the annual meetings of the International Monetary Fund (IMF) and the World Bank (WB).

Federal Finance Minister Senator Muhammad Aurangzeb has departed for America where he will attend the annual meetings of IMF and World Bank.