Aurangzeb discusses PIA, energy security, climate finance during UNGA week

Pakistan Finance Minister Muhammad Aurangzeb held a series of meetings and engagements in New York during the United Nations General Assembly’s high-level week, discussing PIA’s fleet modernization, energy security, climate financing, virtual assets and Pakistan’s climate priorities.

What did Aurangzeb discuss with Boeing?

Aurangzeb met Boeing Global President Dr. Brendan Nelson on September 22 to discuss Pakistan International Airlines’ fleet modernization and broader cooperation in the aviation sector.

Boeing confirmed that it would submit a revised proposal to PIA for the acquisition of new aircraft, while the two sides also discussed options for earlier delivery slots and interim leasing arrangements.

The talks covered potential financing support from the U.S. Export-Import Bank, engine procurement, spare parts, maintenance and the restoration of grounded aircraft.

Aurangzeb also outlined Pakistan’s plans to privatize PIA and outsource management of major airports. He welcomed Boeing’s support for aviation-safety capacity, regulatory engagement and efforts to restore direct flights between Pakistan and the United States.

Why is Pakistan focusing on energy security?

Aurangzeb also participated in a World Economic Forum dialogue on “Powering Growth in the New Economy,” where he said energy security had become an immediate concern amid geopolitical conflicts and disruptions to fuel supplies.

He pointed to Pakistan’s largely private-sector-led expansion in solar energy as an example of how renewable power could reduce dependence on imported fuels.

Aurangzeb also linked energy security with food security, saying disruptions to fuel supplies can have wider consequences for economic resilience.

What did Pakistan seek on climate financing?

During separate New York engagements, Aurangzeb highlighted Pakistan’s vulnerability to climate-related disasters, particularly floods that have damaged infrastructure and affected communities.

He outlined government efforts to strengthen disaster-response frameworks, early-warning systems and costed climate-investment plans, while saying international assistance needed to be complemented by domestic resources and fiscal buffers.

Aurangzeb said Pakistan had mobilized financing through the World Bank, Asian Development Bank and international capital markets for relief, adaptation and reconstruction.

He called on international climate funds, including the Green Climate Fund and Loss and Damage Fund, to simplify procedures and accelerate access to financing for vulnerable countries.

How does Pakistan plan to use virtual assets and tokenization?

Aurangzeb also addressed digital transformation and financial inclusion during United Nations Digital Cooperation Day 2026.

He highlighted Pakistan’s transition toward a regulated virtual-assets framework and said tokenization should address practical economic needs, including cheaper remittances, financing for small and medium-sized enterprises, sovereign debt and broader access to financial services.

The finance minister said private-sector innovation should be supported by strong state safeguards, inclusive digital infrastructure and international cooperation.

He also called for emerging economies to have a role in shaping global standards for digital technologies.

What are Pakistan’s priorities for COP31?

Aurangzeb expressed Pakistan’s support for the COP31 Action Agenda, saying it aligned with the country’s national climate priorities and NDC 3.0 commitments.

He highlighted priorities including clean energy and electrification, renewable-energy expansion, energy-efficient buildings, climate-resilient cities, climate education, food security and climate-resilient agriculture.

Aurangzeb also welcomed the proposed Climate Implementation Bridge as a mechanism to turn climate commitments into investable and bankable projects.

He said the main challenge was increasingly the implementation of existing climate plans rather than their formulation, while describing the agenda’s action points and key performance indicators as a way to focus on measurable results.