Islamabad, April 5, 2025 – Finance Minister Muhammad Aurangzeb announced on Saturday that Pakistan is actively seeking opportunities within the recent tariff impositions by the US administration, viewing the move not merely as a challenge but also as a chance to strengthen its global trade presence.
Addressing a press conference, Aurangzeb emphasized that Pakistan is approaching the situation with a strategic mindset and will soon send a high-level delegation to Washington.
“In the next few days, we will finalize our recommendations to the Prime Minister, and with his approval, we intend to send a senior delegation to the US,” said Aurangzeb. “Our goal is to reinforce Pakistan’s desire to become a long-term strategic partner, especially in light of changing global trade dynamics.”
To manage this evolving scenario, Pakistan has established two committees: a steering group led by Aurangzeb himself, and a working group headed by the Secretary of Commerce. These groups are meeting regularly to identify avenues where challenges can be converted into mutually beneficial opportunities. “You should never let a good crisis go to waste,” Aurangzeb remarked, underlining the government’s proactive approach.
The minister stressed that Pakistan sees the US not only as its largest trading partner in terms of exports but also as a strategic ally. A carefully crafted package is being developed to present to the US authorities, ensuring a win-win proposition for both nations in the medium to long term.
Turning to domestic matters, Aurangzeb highlighted that Pakistan has achieved macroeconomic stability and is now focusing on sustainable, export-led growth. He noted a 32% increase in remittances year-on-year and projected that foreign exchange reserves would surpass $13 billion by June.
Exports have remained resilient, showing a 7% growth, while inflation has dropped to a six-decade low of 0.7%. Aurangzeb also pointed out that the decline in the KIBOR rate is benefiting industrial borrowers and reviving business confidence, which is evident from recent surveys.
Structural reforms remain central to the government’s agenda. Aurangzeb said that 24 state-owned enterprises, including PIA, have been transferred to the Privatization Commission. Economic development spending has jumped to Rs 870 billion from last year’s Rs 720 billion.
Regarding Pakistan’s relationship with the IMF, Aurangzeb confirmed the successful conclusion of the six-monthly Staff Level Agreement. The next $1 billion tranche is expected soon under the Extended Fund Facility, and negotiations are ongoing for the Resilience and Sustainability Fund.
He emphasized the importance of broadening the tax base and achieving a tax-to-GDP ratio of 10.6% by June. Tax filers have doubled from 2 to 4 million, and return submissions have surpassed 6 million. Digital transformation in enforcement has already boosted revenues, especially with the track-and-trace system being implemented across key sectors.
On the energy front, reforms are reducing industrial electricity tariffs and restructuring state utilities like NTDC and DISCOS for long-term viability.
As Pakistan moves forward, Aurangzeb reiterated that real transformation lies in structural reforms, fiscal responsibility, and leveraging international shifts—such as US tariff changes—as stepping stones for progress.