Finance Minister Muhammad Aurangzeb calls on the business community to propose solutions amid rising tariffs.
Key Takeaways:
i) Finance Minister Muhammad Aurangzeb has requested the business community to assist the government in professionally addressing the trade deficit challenges with the US.
ii) The US is Pakistan’s largest trading partner, with total goods trade estimated at $7.3 billion in 2024.
iii) The government is planning to send a high-powered delegation, including business representatives, to the US for constructive dialogue.
Islamabad, Pakistan – April 13, 2025 – Finance Minister Muhammad Aurangzeb has appealed to Pakistani businesses to collaborate with the government in addressing the growing trade deficit with the United States. This appeal comes as the US has increased tariffs on imports, impacting Pakistan’s exports.
Aurangzeb emphasized that the United States is Pakistan’s largest trading partner, with total goods trade reaching an estimated $7.3 billion in 2024. He urged the business community to share innovative ideas and proposals to help the government navigate the challenges posed by the US tariff policies.
The Finance Minister highlighted the government’s intention to send a high-level delegation to the US, which will include representatives from the business sector. The aim is to engage in productive discussions with US authorities to find mutually beneficial solutions.
Pakistan’s economy is showing signs of stability, with the Asian Development Bank (ADB) projecting a 2.5% growth in FY2025.
In addition to trade concerns, Aurangzeb addressed the ongoing privatization of state-owned enterprises (SOEs). He noted that 24 SOEs have been transferred to the Privatization Commission. He also pointed out the issues within the attached departments of ministries, which he claims are causing a significant burden on the exchequer due to corruption. The government aims to privatize up to 50 SOEs in the next 3-4 years.
Pakistan’s economy is showing signs of stability, with the Asian Development Bank (ADB) projecting a 2.5% growth in FY2025. This growth is attributed to economic reforms and improved macroeconomic stability.
