Pakistan's Finance Minister Muhammad Aurangzeb announced that his country will request an expansion of its 30 billion yuan swap line with China upon its expiration in 2027 and expects a decision on a proposed $10 billion exchange stabilisation facility from the US within two months. The minister highlighted Pakistan's reliance on external financing to bolster foreign exchange reserves, noting ongoing discussions with Chinese officials and US agencies like EXIM and DFC for additional support. Aurangzeb also addressed concerns over crude oil prices due to Middle East tensions but stated that Pakistan has adequate oil stocks and no immediate plans to seek IMF assistance.
Written by the local model on 2026-09-17,
using this article's own text rather than the other coverage of the
same event.
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No political leaning scored for article 15546 · logged 2026-09-17
Pakistan will seek an expansion of its 30 billion yuan swap line with China when the facility expires in 2027, Finance Minister Muhammad Aurangzeb said, adding he expects a US response on a proposed $10bn exchange stabilisation facility within two months.
asserted
he → seek → months
The country remains reliant on external financing to bolster foreign exchange reserves and meet debt repayments, making support from China, Gulf states and multilateral lenders key to maintaining economic stability and investor confidence.
asserted
support → remain → stability
Aurangzeb said the entire 30bn yuan swap line from China had been fully drawn, adding that the government had yet to decide how much additional financing it would seek when the facility comes up for renewal.
“They were open to it, but there is a process which has to be followed,” said Aurangzeb, referring to recent meetings with his Chinese counterpart and the country’s central bank governor.
asserted
Aurangzeb → say → counterpart
“We do plan to make a formal request at the time of the renewal.”
asserted
We → plan → renewal
Meanwhile, Aurangzeb said he expected a response within two months to Pakistan’s request for a $10bn exchange stabilisation facility from Washington, adding that the government was also in talks with the Export-Import Bank of the United States (EXIM) and the US International Development Finance Corporation (DFC).
asserted
government → say → States
EXIM financing could support aircraft purchases from Boeing by Pakistan International Airlines now that the national carrier is privatised, while DFC could help fund a planned $5bn programme to upgrade the country’s oil refineries.
uncertain
DFC → support → refineries
Asked whether there were any concerns about simultaneously seeking additional support from the US and China, Aurangzeb said it was an “and-and” discussion.
asserted
it → ask → US
“China has been a long-standing strategic partner for us … and we have very good, at the leadership level now, understanding and relationship with the Trump administration,” he said.
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he → stand → administration
“We are very fortunate to have this kind of relationship with both important economic and superpowers.”
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We → have → economic
The US Treasury, DFC and EXIM did not immediately reply to a request for comment.
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Treasury → reply → comment
Asked about elevated crude oil prices following the latest Middle East conflict, which began in February, Aurangzeb said Pakistan had navigated the initial price spike after US and Israeli strikes on Iran relatively well, but cautioned that the outlook had become more uncertain.
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outlook → ask → Iran
“If this conflict goes into, unfortunately, November or December, you know, this is something which will be an area of concern for us,” he said, adding prolonged disruption could put at risk the government’s 4pc growth target for the fiscal year.
uncertain
disruption → go → year
Pakistan had secured sufficient oil stocks to cover its needs through September and was well positioned for October, he said, adding an institutionalised mechanism was now reviewing the situation on a daily basis.
asserted
mechanism → secure → basis
Nonetheless, Aurangzeb said the government had no plans to seek additional International Monetary Fund (IMF) financing or emergency support from the Washington-based lender.
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government → say → lender
“As of now, our considered view is that it’s manageable.”
asserted
it → ’ → ?
“From our perspective, we are in good stead with the quantitative benchmarks, and we are largely compliant with the structural benchmarks,” he said.
asserted
he → say → benchmarks
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