Trade deal signed with US to boost exports, improve economy
APP
ISLAMABAD: Parliamentarians in lower house of parliament on Thursday were informed that the trade deal signed with the United States will boost Pakistan’s exports and positively impact the economy.
Minister of State for Finance Bilal Azhar Kayani told the house during question hour that the 19% tariff rate offered to Pakistan is the lowest in the South Asian region. He said that bilateral relations with the United States have strengthened as a result of government’s efforts.
He said the government has increased its support for low income families by expanding funding for social welfare programs. He said a total of seven hundred and sixteen billion rupees have been allocated for Benazir Income Support Program, reflecting a 21% increase compared to the previous year.
The Ministry of Commerce shared details of recent trade deal signed with the United States with the House. The Minister of State for Finance Bilal Azhar Kayani told the house that the 19% tariff rate offered to Pakistan is the lowest in the South Asian region. The commerce ministry presenting salient features of the agreement said that the United States has expressed interest for investment in mineral sector.
Ministry said that the government’s working group and the steering committee headed by the finance minister held talks with the US officials.
The steering committee has set a three-point strategy aimed at decreasing adverse impact on Pakistan’s exports, ministry told the house. “Pakistan will enhance imports from the US to decrease trade deficit”.
Ministry said that Pakistan and the United States will hold further discussion over taxes on various products. The non-tariff hurdles would also be reviewed to remove or soften them.
“The two sides have agreed over the framework”, ministry said. The United States has slashed the tax from 29% to 19%, ministry told the house.
The House saw detail discussion on various national issues, including security operations, the National Finance Commission Award, medicine shortages, and new legislation.
Former NA speaker Asad Qaiser accused Minister of State for Interior Talal Chaudhry of making a false statement regarding security matters. He questioned the federal government’s treatment of provinces, stating that net hydel profits and tobacco cess were not being paid. He also opposed any new military operation, declaring, “We will not allow any operation in our province.”
Law Minister Azam Nazir Tarar responded by saying that Khyber Pakhtunkhwa had been receiving its share from the divisible pool without interruption. He noted that past negotiations with militants were historical and reiterated the need for unity against terrorism. “We must all commit to a terrorism-free Pakistan and make necessary sacrifices,” he said.
Talal Chaudhry, clarifying Asad Qaiser’s statement on security situation, spoke on the situation regarding pilgrimage routes, particularly after the recent Iran-Israel conflict, which led to security concerns and a ban on land travel. He said talks were ongoing, including a second round in Karachi, to facilitate safe air and land travel for pilgrims.
On parliamentary conduct, Chaudhry said the Assembly’s privileges should be respected. Referring to the protest on Kashmir Istehsal Day (August 5) by Pakistan Tehreek-e-Insaf, Talal Chaudhry said that gates were managed to control crowds and ensure session continuity. He criticized Asad Qaiser for allegedly passing 54 bills in 10 minutes during his tenure, saying that today’s speaker allows more time for opposition than PTI ever did.
Pak-US ties based on reliable, long-term partnership: Maryam
Punjab Chief Minister Maryam Nawaz Sharif said on Thursday that the relationship between Pakistan and the United States is an example of a tested, trusted, and sustainable partnership.
Maryam Nawaz Sharif met with the newly appointed US Consul General in Lahore, Stetson Sanders. The chief minister welcomed Stetson Sanders on his arrival in Lahore and warmly congratulated him on assuming the office of Consul General.
During the meeting, detailed discussions were held on matters of mutual interest, trade relations, energy cooperation, technology, agriculture, and educational exchanges. The Chief Minister appreciated the efforts of US President Donald Trump to mediate between Pakistan and India.
Speaking at the meeting, Maryam Nawaz said that Stetson Sanders was appointed at a time when positive progress is being observed in Pakistan-US relations. Pakistan-US ties are based on a reliable, stable, and long-term partnership spanning several decades.
She stated that people-to-people contacts, trade cooperation, and shared interests have further strengthened the Pakistan-US partnership. The increase in trade volume between Pakistan and the US in 2024 is a welcome development. The United States is Pakistan’s largest trading partner and a trusted economic partner.
The chief minister said that the Pakistani-American community is a strong link in people-to-people relations between the two countries. She has also met with the US Congressional Pakistan Caucus in April 2025.
Maryam Nawaz informed that over 20,000 IT graduates are passing out annually in Punjab. Punjab is the agricultural backbone of Pakistan. The Punjab government is prioritizing the development of water-efficient farming, precision agriculture, and cold chain infrastructure. American agricultural technology companies can benefit from numerous investment opportunities in Punjab.
She said that they are committed to transforming Pakistan-US relations into a comprehensive, strategic, and people-centered partnership. A state-of-the-art new electric train is being introduced in Punjab. Under the “Apni Chhat Apna Ghar” initiative, Punjab has set a commendable example in public sector housing within a few months.
