ISLAMABAD – Pakistan and the United States have agreed to finalise a trade agreement soon to boost bilateral economic ties.
Federal Finance Minister Muhammad Aurangzeb held a virtual meeting with the U.S. Secretary of Commerce during which both sides agreed to finalize the trade agreement at the earliest.
A statement issued by the Ministry of Finance said discussions were held on US tariffs, and both sides talked about strengthening trade, investment, and economic relations.
The statement further said that Pakistan and the US expressed their commitment to continue negotiations, and more detailed technical-level talks are expected soon.
On the other hand, speaking at a ceremony in Islamabad, Finance Minister Muhammad Aurangzeb said that Pakistan’s export sector is moving in a positive direction, and export industries will continue to grow.
The finance minister added that in order to increase exports, we must focus on industrial development, and we are implementing reforms in the tax net, energy sector, and state-owned enterprises (SOEs).
He said the government will continue to bring reforms in taxation, energy and other sectors. He added that the government has also carried out tariff reforms to move towards competitive economy.
Talking about pension reforms, Aurangzeb said Defined Contribution Pension Scheme is a win win for both the government and the employees.
He said the government has increased the pension of retired employees by seven percent in line with inflationary trends in budget for next fiscal year 2025-26.
