Federal Minister for Finance and Revenue Muhammad Aurangzeb on Wednesday assured that Pakistan is well-positioned to manage the global uncertainty arising from new US tariff policies, stating that the government is actively engaging with Washington to mitigate any adverse impact.
Addressing members of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Aurangzeb confirmed that dialogue with American counterparts is already underway. “We already have constructive engagements with US authorities on the sidelines of the World Bank and IMF Spring Meetings,” he noted, adding that Prime Minister Shehbaz Sharif has decided to dispatch a high-level delegation to Washington for negotiations on tariff-related matters.
Aurangzeb quantified the current trade relationship with the US, revealing that Pakistan’s annual exports to the United States stand at approximately $5 billion, while imports hover around $2 billion. He highlighted that the average tariff differential between the two countries is around 3 percent.
Recapping his recent visit to the United States, the finance minister shared that Pakistan’s delegation held over 70 meetings with top officials from the World Bank, International Monetary Fund, Asian Development Bank, other multilateral and bilateral institutions, think tanks, and friendly nations.
He also spoke about Pakistan’s improved economic indicators, noting particular progress on inflation and the current account balance. “The current account is expected to remain in surplus this fiscal year,” Aurangzeb stated, adding that fiscal discipline has been maintained across the board, thanks in part to the active participation of provincial governments.
The minister pointed to the significant drop in inflation as a key milestone, which enabled a cumulative policy rate cut of 1,000 basis points. “The next meeting of the Monetary Policy Committee is scheduled for next week,” he added.
Reflecting on Pakistan’s long history with the IMF, Aurangzeb acknowledged the cyclical nature of previous stabilization efforts. “This is Pakistan’s 24th IMF program,” he said. “The Prime Minister and his entire cabinet are committed to making this the last. We are moving forward with structural and economic reforms to secure long-term stability.”
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