Pakistan in talks with US to dismantle non-trade barriers, escape tariffs: FinMin
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An undated image of Finance Minister Muhammad Aurangzeb speaking during an interview. — AFP/File
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To reduce President Donald Trump’s clean rates, Finance Minister and Tax Senator Mohammad Aurangzeb has said that Pakistan wants to buy more goods from the United States and remove non -tariff barriers.
The Finance Minister made these comments while talking to Bloomberg News during a week -long journey to the United States to attend the International Monetary Fund (IMF) and the World Bank’s spring meetings.
He said that Islamabad is talking to Washington to tear off barriers to non -trade to open its markets for more US products.
He added, “This is a great canvas we are seeing in the matter of adding the United States. We will be constructively engaged, and we will have a formal delegation.”
“Pakistan is open to US firms to foreign direct investment (FDI) and this year is preparing to debut its first Panda Bond from $ 200 million to $ 250 million.”
Financezer added that he wanted to buy more cries and soybeans from the United States. He added, “We can also see if there is a problem in relation to the non -tariff debate, even if there is any inspection for American products at our end, we can clearly see it.”
He added that the trade delegation will visit Washington to end the trade gap in the coming months. The minister said that after approaching the default in 2023, authorities in Pakistan were trying to rebuild the country’s scattered economy and received preliminary approval for 3 2.3bn IMF loans, which would provide a fund exhibition by 2027.
Aurangzeb said that Fitch also upgraded Pakistan’s credit rating last week, citing the confidence that Pakistan would be able to maintain reforms under the IMF Loan program.
The Minister added, “What we are looking for is how we get away from the boom and the broken cycle, through which Pakistan is passing through and on the path to sustainable development.”
Earlier this month, Trump announced a 90 -day break at rates, saying that more than 75 countries took a decision after arriving for talks and retaliated against the United States. Earlier, it had imposed 29 % of the taxes on Pakistani exports to the United States.
Some preliminary estimates suggest that the implementation of mutual prices on Pakistani products by US President Donald Trump could disrupt exports at a limit of $ 500 to $ 700 million.
Finanman assures WB’s commitment to the Government’s Sustainable Economic Stability
On the eve of the 2025 spring meetings of international lenders in Washington, Aurangzeb met with the World Bank Group President Ajay Banga.
According to PID reports, the Finance Minister presented a detailed overview of Pakistan’s economic change and confirmed the government’s commitment to ensure sustainable economic stability.
During the meeting, he thanked the WB for its historical support for Pakistan and praised its leadership in the preparation of a converted CPF, a decade long strategic roadmap, which is the center of measurement effects and consequences. The Minister praised the WB’s ongoing aid in developing a comprehensive implementation strategy and action plan to give the CPF into practice, while increasing the overall performance simultaneously.
In his meeting with IMF Managing Director Cristalina Georgiefa, Aurangzeb thanked the IMF team that he arranged a new arrangement under the Extension Fund Facility (EFF) under the staff level contract and flexibility and stability (RSF).
He reaffirmed the government’s commitment to the government to maintain the pace of reforms and extended an invitation to Prime Minister Shahbaz to go to the country for Georgefa.
