ISLAMABAD
\nFederal Minister for Finance and Revenue, Muhammad Aurangzeb has said Pakistan is open to foreign direct investments from United States (US) firms in its recently opened minerals and mining sectors and is preparing to debut its first-ever Panda bond in the range of $200 million to $250 million this year.
\nHe was talking to the Bloomberg News during his week-long trip in the US to participate in the spring meetings of the International Monetary Fund and the World Bank.
\nHe said Pakistan is looking to buy more goods from the US, including cotton and soybean, and remove non-tariff barriers to escape President Donald Trump\u2019s high tariffs, said a press release issued by Ministry of Finance here on Tuesday.
\n\u201cIt\u2019s a bigger canvas that we are looking at in terms of engaging the US,\u201d Aurangzeb said adding \u201cWe will constructively engage, and we will have a formal delegation coming in.\u201d
\nThe minister said Pakistan is trying to rebuild its economy after coming close to default in 2023, and has won an initial nod for a $2.3 billion IMF loan that will give it funding visibility until 2027.
\nHe said that Pakistan is looking to buy more cotton and soybean from the US, adding that it is also in talks to tear down non-trade barriers to open its markets to more US products.
\nMinister Aurangzeb said, \u201cWe can also look at if there are any issues with respect to non-tariff discussion, whether there any onerous inspections at our end for US products, we can obviously view that.\u201d
\nHe said that Islamabad is trying to appease the US to seek reprieve from the 29% reciprocal tariffs imposed by President Donald Trump. While those levies are on hold until July, Pakistan will send a trade delegation to Washington in the coming months to bridge the trade gap.
\nHe said the US is Pakistan\u2019s largest export market with over $5 billion in annual exports as of 2024, while Pakistan\u2019s imports from the US are about $2.1 billion.
\nThe minister said the country is also open to foreign direct investments from US firms in its recently opened minerals and mining sectors.
\nAurangzeb, a close aide of Prime Minister Shehbaz Sharif, is in the US for a nearly week-long trip to participate in the Spring Meetings of the International Monetary Fund and the World Bank.
\n\u201cWhat we are looking for is how we get away from a boom and bust cycle which Pakistan has gone through and get on to a sustainable growth path,\u201d he said.
\nPakistan is preparing to debut it\u2019s first-ever Panda bond in the range of $200 million to $250 million that will likely take place in the fourth quarter of this year, the minister added.
\nHe said that Authorities are trying to rebuild the Pakistan\u2019s tattered economy after it came close to a default in 2023.
\nLast month, the South Asian nation won an initial nod for a $2.3 billion IMF loan that will give its funding visibility until 2027.
\nLast week, Fitch upgraded Pakistan\u2019s credit rating, citing confidence that the South Asian country will be able to sustain reforms under the IMF loan program.
\nThe former JPMorgan Chase and Co. banker said that the crisis-ridden nation will tap the international capital markets to secure more funds for a sustainable growth.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD Federal Minister for Finance and Revenue, Muhammad Aurangzeb has said Pakistan is open to foreign direct investments from United States (US) firms in its recently opened minerals and mining sectors and is preparing to debut its first-ever Panda bond in the range of $200 million to $250 million this year. He was talking to …<\/p>\n","protected":false},"author":4,"featured_media":78723,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-79988","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/79988","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/comments?post=79988"}],"version-history":[{"count":1,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/79988\/revisions"}],"predecessor-version":[{"id":80021,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/79988\/revisions\/80021"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media\/78723"}],"wp:attachment":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media?parent=79988"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/categories?post=79988"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/tags?post=79988"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}