Pakistan, US agree to boost economic cooperation in key sectors

Federal Finance Minister Muhammad Aurangzeb Thursday held a meeting with US Chargé d’Affaires Natalie Baker, during which both sides agreed to enhance economic cooperation between Pakistan and the United States.

The meeting focused on expanding collaboration in trade, investment, and energy sectors, with particular emphasis on increasing US investment in Pakistan. Officials noted that existing US investments span across energy, technology, and logistics, highlighting the potential for further growth.

During the discussion, the finance minister reiterated the government’s commitment to continuing reforms in the energy sector, stressing that the subsidy system would be limited to deserving segments of society to ensure economic stability.

Both sides also reviewed the challenges faced by Pakistan due to rising global oil prices and exchanged views on mitigating their impact on the economy.

Aurangzeb reaffirmed Pakistan’s resolve to stay on course with reforms under the International Monetary Fund (IMF) program, while the US side expressed continued support for Pakistan’s economic reform agenda.

The meeting also underscored the importance of improving the business environment in Pakistan to attract foreign investment. Opportunities to enhance bilateral investment were discussed, including the possibility of Pakistan’s participation in the upcoming US Investment Summit.