- Pakistan opened at the IED of American companies, explains the Minister of Finance.
- Said it is a bigger canvas that we plan to commit.
- The minister says that we are looking to buy more cotton, soy on our part.
The Minister of Finance and Income, Senator Muhammad Aurangzeb, said that Pakistan sought to buy more goods in the United States and to withdraw non-pricing obstacles to mitigate the high prices of President Donald Trump.
The Minister of Finance made these remarks while speaking to Bloomberg News during his one-week trip to the United States to participate in the spring meetings of the International Monetary Fund (IMF) and the World Bank.
He said that Islamabad was in talks with Washington to demolish obstacles without exchange to open his markets to more American products.
“It is a greater canvas that we are considering in terms of commitment from the United States. We will commit ourselves constructively, and we will have an official delegation to come,” he added.
“Pakistan is open to direct foreign investments (FDI) of American companies and is preparing to start its very first panda obligation in order of $ 200 million at $ 250 million this year.”
The financial tsar added that they were trying to buy more cotton and soy in the United States. “We can also try to find out if there are problems concerning the discussion on non-manufacturers, if there are expensive inspections at our end for the products, we can obviously see this,” he added.
He also declared that a commercial delegation will also go to Washington in the coming months to fill the commercial lake. The minister said that the authorities in Pakistan were trying to rebuild the country’s shreds economy after being close to a defect in 2023 and had won an initial head sign for an IMF loan of $ 2.3 billion which will give him financial visibility until 2027.
Aurangzeb said that Fitch also improved the Pakistan credit rating last week, citing the confidence that Pakistan will be able to support reforms as part of the IMF loan program.
“What we are looking for is how we move away from a boom and bust cycle, which Pakistan has traveled and on the path of sustainable growth,” added the minister.
Trump, earlier this month, announced a 90-day break on prices, saying that he had made the decision after more than 75 countries had contacted negotiations and did not retaliate against the United States. Earlier, it had imposed 29% of Pakistani export prices in the United States.
The taxation of reciprocal prices of US President Donald Trump on Pakistani products could disrupt exportable supplies of $ 500 to 700 million at the maximum, according to certain initial estimates.
Finish ensures that WB of government’s commitment to sustainable economic stability
On the sidelines of spring meetings in 2025 international lenders in Washington, Aurangzeb held a productive meeting with the president of the World Bank Group Ajay Banga.
The Minister of Finance gave a detailed overview of the macroeconomic turnaround of Pakistan and reaffirmed the unwavering commitment of the government to ensure sustainable economic stability, PID reported.
During the meeting, he expressed his gratitude to WB for his historic support in Pakistan and congratulated his management in the development of a transformer CPF, a strategic roadmap of a decade was centered on impacts and measurable results. The Minister appreciated the continuous assistance of WB in the development of a complete implementation strategy and an action plan to operationalize the CPF while simultaneously improving overall efficiency.
During her meeting with the Director General of the IMF, Kristalina Georgieva, Aurangzeb thanked the IMF team for having concluded an agreement at the level of staff on the first review in virtue of extended fund (EFF) and a new arrangement under resilience and sustainability (RSF).
He reiterated the commitment of the government of Pakistan to maintain the dynamics of the reform and extended an invitation from Prime Minister Shehbaz for Georgieva to visit.