Pakistan to Send High-Level Delegation to the US for Tariff Discussions: Finance Minister

Finance Minister Muhammad Aurangzeb announced that Pakistan has decided to dispatch a high-level delegation to the United States to address tariff-related issues. Speaking at a press conference, the minister emphasized that a working group and a steering committee are actively preparing recommendations, which will soon be presented to the Prime Minister. The delegation will engage with the US administration to discuss challenges and opportunities surrounding tariffs, which have significant implications for Pakistan’s economy. Aurangzeb highlighted that while tariffs pose challenges, they also present opportunities for Pakistan. However, he clarified that no special package is currently under consideration for the local industry regarding US tariffs. Instead, the government aims to make industries competitive rather than offering protection or subsidies. Proposals related to taxation will be reviewed, but the focus remains on fostering a competitive environment for businesses. The finance minister also addressed broader economic issues, noting that inflation is being closely monitored and that relief measures for salaried individuals will be included in the upcoming budget. He reiterated the government’s commitment to structural reforms in various sectors, including energy and taxation, to ensure sustainable economic growth. Aurangzeb further stated that energy costs and financing are now under control, and the government is working to reduce operational expenses in the next fiscal year. He also mentioned that Pakistan’s macroeconomic stability is improving, with foreign exchange reserves expected to exceed $13 billion by June. The government is committed to enhancing exports and diversifying the economy to reduce reliance on external debt. The upcoming discussions with the US administration on tariffs are expected to play a crucial role in shaping Pakistan’s trade policies and economic strategy in the coming months.