On Wednesday, the Federal Finance and Revenue Minister, Mohamed Uranzib, confirmed that Pakistan is in a good position to manage global uncertainty arising from the policies of the new American tariffs, saying that the government is actively involved with Washington to alleviate any negative impact.
In the treatment of members of the FPCCI Federation, Aurangzeb stressed that the dialogue with their American counterparts is already underway. He pointed out that “we already have constructive links with the American authorities on the sidelines of the World Bank meetings and the International Monetary Fund element,” adding that Prime Minister Shaybaz Sharif has decided to send a high -level delegation to Washington for negotiations on tariff issues.
Aurangzeb divided the current commercial relationship with the United States, and revealed that Pakistan’s annual exports to the United States stand about $ 5 billion, while imports are about $ 2 billion. He highlighted that the average definition between the two countries is about 3 percent.
The Minister of Finance participated in his recent visit to the United States that the Pakistan delegation held more than 70 meetings with senior officials from the World Bank, the International Monetary Fund, the Asian Development Bank, multilateral and other bilateral institutions, thought tanks, and friendly nations.
He also talked about the improved economic indicators of Pakistan, indicating special progress in inflation and the current account balance. “The current account is expected to remain in the surplus of this fiscal year,” said Uranzib, adding that financial discipline has been maintained in all fields, partly due to the active participation of province governments.
The minister pointed to a significant decrease in inflation as a major landmark, which enabled the reducing the rate of cumulative policy of 1,000 basis points. He added: “The next meeting of the Monetary Policy Committee is scheduled to be held next week.”
Thinking about Pakistan’s long history with the International Monetary Fund, Uranzib admitted the periodic nature of previous stability efforts. “This is the twenty -fourth IMF program for Pakistan,” he said. “The Prime Minister and the entire cabinet are obligated to make this last. We are advancing with structural and economic reforms to secure long -term stability.”
