KARACHI: Pakistan sought US Export-Import Bank support for Boeing aircraft purchases, refinery upgrades and the Reko Diq copper-gold mine, according to an official statement circulated on Thursday, as Islamabad looks to mobilize US financing for major investments in aviation, energy and mining.

Finance Minister Muhammad Aurangzeb discussed the projects with US EXIM Chairman John Jovanovich in New York, seeking financing for Boeing 787 Dreamliners and engines for Pakistan International Airlines (PIA), while raising potential support for refinery upgrades and the already approved $1.25 billion financing for Reko Diq.

“Both sides agreed that work on a broader cooperation framework should continue while they prioritize specific transactions, including possible financing for aircraft pre-delivery payments,” the finance ministry said.

“Refinery upgrades were also identified as another potential area for US EXIM Bank support.”

Aurangzeb outlined PIA’s interest in Boeing aircraft and also raised the need for spare parts to return grounded aircraft to service, according to the ministry.

The discussions follow a meeting between Aurangzeb and Boeing Global President Brendan Nelson in New York on Tuesday, when the US planemaker confirmed it would submit a revised proposal for new aircraft to PIA, while earlier delivery slots and interim leasing arrangements would also be explored.

The EXIM talks also come as Pakistan moves ahead with a long-delayed program to modernize its five existing oil refineries, which the government estimates could attract around $6 billion in investment over five years.

On Reko Diq, Aurangzeb emphasized the project’s importance to Pakistan’s future exports and the cost of delays, while welcoming what the finance ministry described as US EXIM’s continued commitment to the mine.

US EXIM approved $1.25 billion in financing for Reko Diq last November to support the purchase of US goods and services for development of the copper-gold mine.

The latest discussions form part of a broader effort by Pakistan to deepen economic ties with Washington and diversify sources of external financing while it implements a $7 billion International Monetary Fund program.

Aurangzeb told Reuters last week Pakistan was in talks with US EXIM over possible financing for Boeing aircraft purchases and with the US International Development Finance Corporation over support for refinery upgrades, while Islamabad was separately seeking a $10 billion US exchange stabilization facility.

Pakistan has traditionally relied heavily on the IMF, China and Gulf countries for external financing, but has increasingly sought US investment and financing, particularly in mining and other strategic sectors.