Islamabad: Finance Minister Muhammad Aurangzeb has underscored the need to broaden Pakistan’s foreign currency financing sources and to innovate financing strategies aimed at bolstering investment and economic productivity.
According to Radio Pakistan, Aurangzeb made these remarks at a ceremony marking the signing of a project agreement between the International Finance Corporation (IFC) and Bank Alfalah Limited (BAFL). The agreement pertains to Pakistan’s inaugural Diversified Payment Rights (DPR) Programme. He emphasized the importance of effectively utilizing this financing channel and developing a pipeline of projects that require foreign currency funding.
The DPR Programme, initiated under the guidance of the Prime Minister, offers a novel approach for securing long-term foreign currency financing via eligible future foreign-currency payment flows. The initiative seeks to broaden external financing sources and enhance access to international capital markets.