ISLAMABAD: Finance Minister Muhammad Aurangzeb announced that Pakistan will host an investor conference in Washington later this month to attract American investors, Bloomberg reported on Wednesday.
Aurangzeb stated that the sectors where Pakistan seeks investment and sees clear appetite from US investors are well defined, emphasizing that the process with the US has only just begun.
Pakistan’s ties with the US have strengthened recently, as the country secured the lowest tariff rate in the region—19%—through a trade agreement, which is expected to boost exports.
Last week, Prime Minister Shehbaz Sharif and Army Chief Field Marshal Syed Asim Munir held a rare meeting with US President Donald Trump at the White House to discuss various issues.
In addition, Pakistan and the US signed a $500 million memorandum of understanding (MoU) last month to collaborate on critical minerals production, with US Strategic Metals (USSM) and Pakistan’s Frontier Works Organisation (FWO) as signatories.
Aurangzeb also noted that the recent trade deal with the US, setting the tariff at 19%, has enhanced Pakistan’s export competitiveness. He emphasized that all industries in Pakistan need an export component to break out of the boom-and-bust cycle.
On Pakistan’s ongoing talks with the International Monetary Fund (IMF), Aurangzeb said the review of the $7 billion Extended Fund Facility (EFF) is “largely on track,” with Pakistan having recently paid off a $500 million Eurobond due Tuesday.
The IMF talks, which began on Monday, focus on fiscal performance and governance reforms.
Bilateral economic links have also grown, with credit rating agencies including S&P Global, Fitch, and Moody’s upgrading Pakistan’s credit ratings this year, citing stronger finances and revenue gains.
Pakistan’s dollar bonds and equities have seen growing investor appetite, with bonds yielding nearly 22% and the benchmark stock index gaining 44% this year, among the best performers in Asia.
Bloomberg Economics estimates that Pakistan’s growth quickened to 3.4% in the second quarter, with official data expected next week, though it cautioned that recent floods may threaten recovery.
