LAHORE (Monitoring Desk): Federal Minister for Finance and Revenue Muhammad Aurangzeb said he will travel to the United States next week to engage with American counterparts as Pakistan reassesses its trade strategy in light of evolving regional agreements.
Speaking at a session of Pakistan’s Economic Growth and Stability programme at the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) Regional Office in Lahore, Aurangzeb said he would carry recommendations from industry representatives for discussions in Washington.
“I am leaving for the United States next week; all your recommendations in terms of how we need to further negotiate with the US will be discussed,” he said, adding, “We totally aligned with your ask.”
The remarks come as recent trade agreements between the United States and regional economies, including India and Bangladesh, have prompted concerns within Pakistan’s industrial sector over competitive positioning.
The US remains Pakistan’s largest single-country export destination, accounting for around 18 percent of total exports — approximately $5.8 billion — in FY2024-25, according to figures cited at the event. Textiles and garments make up about 82 percent of exports to the US market.
Aurangzeb said Pakistan is operating in “a new world order” and stressed the need for businesses to reassess revenue models and improve productivity to stay competitive.
On macroeconomic policy, he reiterated that Pakistan continues engagement with the International Monetary Fund (IMF), stating, “the balance of payment is a binding constraint on us in terms of our growth.”
He also said the policy rate could move into single digits if inflation continues to ease, noting that the decision rests with the State Bank of Pakistan and its Monetary Policy Committee but adding that “we will see the policy rate dropping to a single digit” if current trends persist.
On external obligations, the minister said Pakistan has repaid a $500 million Eurobond and is expected to meet a $1.3 billion payment due in April.
The upcoming US visit forms part of broader efforts to strengthen trade engagement and safeguard Pakistan’s export competitiveness amid changing regional trade dynamics.
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