Latest news with #Pakistan-US
Express Tribune
14 hours ago
- Politics
- Express Tribune
DPM Dar to meet US Secretary of State Rubio in Washington on Friday
Listen to article Deputy Prime Minister and Foreign Minister Ishaq Dar will meet US Secretary of State Marco Rubio in Washington on July 25, officials confirmed on Wednesday. This will be Dar's first official meeting with Secretary Rubio. The agenda will include a review of Pakistan-US ties, regional developments, particularly recent India-Pakistan tensions, and other matters of mutual interest. US State Department spokesperson Tammy Bruce said senior officials from both nations would be present, and she would attend the meeting. Responding to a question at a press briefing on whether the US supports direct communication between Pakistan and India on Kashmir, as it does on the Indus Waters Treaty, State Department spokesperson Tammy Bruce offered a measured reply. 'We have Pakistan who is going to be here for a bilat, and I'll [be] participating in that, so I'm looking forward to that as well,' Bruce said. We have Pakistan who is going to be here for a bilat, and I'll [be] participating in that, so I'm looking forward to that as well Tammy Bruce The comments follow renewed regional tensions and past efforts by President Trump to mediate between India and Pakistan, including on Kashmir. Trump previously offered to host talks between the two countries during a summit in Saudi Arabia. Read: Quad ministers condemn Pahalgam attack without naming Pakistan The meeting between Deputy Prime Minister and US Secretary of State will follow Pakistan's nomination of President Trump for the Nobel Peace Prize—recognising what the government termed Trump's 'extraordinary role' in restoring calm in South Asia. On May 7, the Indian Air Force carried out an unprovoked attack on civilian targets in Pakistan and alleged that New Delhi had targeted "terrorist infrastructure". The strikes killed multiple Pakistani civilians and injure many more. The Pakistan Air Force (PAF), scrambled to counter the Indian aerial threat, shot down six IAF fighter aircraft including three French-made Rafales. The strikes sett off an exchange of attacks between the two countries by fighter jets, missiles, drones and artillery that killed dozens until a ceasefire on May 10. The ceasefire was first announced by US President Donald Trump on social media after Washington held talks with both sides, but India has differed with Trump's claims that it resulted from his intervention and threats to sever trade talks. India's position has been that New Delhi and Islamabad must resolve their problems directly and with no outside involvement.
Kuwait Times
2 days ago
- Business
- Kuwait Times
Pakistan says held productive trade talks in Washington
LAHORE: Workers operate an industrial embroidery machine at a garment factory in Lahore.-- AFP ISLAMABAD: Pakistan said it held productive trade talks with the US in Washington on Friday to advance economic cooperation, according to a statement from the South Asian country's finance ministry. Finance Minister Muhammad Aurangzeb met US Commerce Secretary Howard Lutnick and US Trade Representative Ambassador Jamieson Greer, the statement said. 'Both sides expressed satisfaction with the progress in enhancing trade and economic ties, a cornerstone of Pakistan-US bilateral relations,' the statement added. It said Aurangzeb emphasized that the US remained Pakistan's largest trading partner. Both sides expressed optimism that ongoing trade talks would yield positive outcomes, benefiting the economies of both countries, the finance ministry said. Pakistan was optimistic that the trade talks would conclude in a week's time after a virtual meeting between Aurangzeb and Lutnick late last month. The negotiations, focused on reciprocal tariffs, are part of a broader push to reset economic ties at a time of shifting geopolitical alignments and Pakistan's efforts to avoid steep US duties on exports. Pakistan faces a 29 percent tariff on exports to the US under President Donald Trump's measures to target countries with large trade surpluses with the US. Pakistan's surplus was around $3 billion in 2024. To offset the imbalance and ease tariff pressures, Islamabad has offered to import more US goods, including crude oil, and to open up investment opportunities through concessions for US firms in Pakistan's mining sector. US-Pakistan relations saw a major boost when Trump hosted Pakistan's army chief Field Marshal Asim Munir at the White House last month in an unprecedented meeting. – Reuters
Express Tribune
3 days ago
- Business
- Express Tribune
Victory celebration and reality check
Listen to article Pakistani luck is flying these days. It has been blessed with massive success, one after the other. First, Pakistan successfully and comprehensively defeated India in the military conflict. It was an enormous triumph, which laid the foundation for a regional reset. India, which had portrayed itself as the regional power, a rising market and economy in Asia, and a leader of the Global South, had to face a checkmate at the hands of Pakistan. Second, on the diplomatic front, Pakistan achieved many accomplishments. After the war, India sent a delegation to the world to launch a propaganda campaign. It wanted to tag Pakistan with terrorism. Pakistan analysed the situation and sent its own delegation, which outperformed the Indian delegation. The world did not buy the Indian argument, and the Pakistani point of view had wider acceptance. Pakistan maintains a balanced relationship with the world's major powers, including China, the United States, and Russia. There is no need to discuss the China-Pakistan relationship, as everyone is aware that both countries share a deep and enduring brotherhood. However, the recent shift in the Pakistan-US relationship is the talk of the town. The US played a prominent role in halting the war between India and Pakistan. After the truce, President Trump praised Pakistan for its sensible and rational behaviour. He also invited Army Chief General Asim Munir for a meeting at the White House. Both sides reportedly discussed enhancing the relationship in multiple fields. On the other hand, Pakistan and Russia intensified efforts to further enhance and strengthen their bilateral relationship. Russia has shown interest in investing more than $2 billion in reviving and expanding Pakistan Steel Mills. It is a good omen, as Pakistan was looking for opportunities to revive the mill. Also, a breakthrough happened at the SCO defence ministers' meeting, where Russia supported Pakistan's stance on terrorism. Simultaneously, Pakistan played a prominent and leading role in ending the Iran-Israel war. It diligently convinced the US administration that the war in the region had no justification. Therefore, all efforts must be made to end the war and work for peace. These examples collectively indicate that Pakistan has achieved significant success in recent months. However, the country needs to be cognizant that these achievements cannot be sustained without solving domestic challenges. Pakistan continues to face multiple challenges. The economic and governance system is in shambles. The government claims that the economy is improving and that the budget will provide a foundation for accelerated economic growth and development, as promised the previous year. But the Economic Survey 2024-25 and the budget for 2025-26 present a bleak picture. The Economic Survey shows that the national GDP grew at a 2.7% rate. However, independent sources are not willing to accept government claims and instead raise questions. They question that, during the first three quarters of FY25, the economy grew at an average annual rate of 1.7%. To achieve a yearly rate of 2.7%, the economy would have had to grow at 5.3% during the last quarter, which is not possible. Apart from that, agriculture, which had provided a significant boost to economic growth in FY24, presented a dismal picture in FY25. A booming sector experienced a sharp decline in production and market share. The growth rate fell to 0.56% in FY25 from 6.25% in FY24, driven by a steep fall in the growth of major crops. Major crops' growth rate fell to -13.26% in 2025, from 11.3% in 2024. Similarly, the large-scale industry is struggling to enter a positive growth trajectory, having demonstrated a negative growth of -1.7%. Social indicators too are pretty disturbing. The World Bank estimates that 44.7% of the population lives below the poverty line, and 16.5% of the population resides in extreme poverty. Poverty is increasing, despite the government's assertions of investing in poverty reduction such as the Benazir Income Support Programme (BISP). This raises questions about the effectiveness and sustainability of the BISP. Food insecurity is another constant irritant, and a 2013 study estimated that 58.8% of the population in Pakistan was food insecure. Unfortunately, we have to rely on old data because the government has not updated it. There are fears that food insecurity has increased over the years due to multiple factors. Poor economic conditions and the devaluation of the PKR have substantially impacted people's purchasing power, resulting in fewer resources available to afford healthy food. Additionally, inadequate governance and management of the agricultural sector have led to lower production and reduced availability of quality food. Bad governance is further complicating the situation. The elite class has designed the institutions to ensure the exclusion of common citizens from the governance system without explicitly mentioning it. The system encourages wealth accumulation, and there is no system in place for redistributing wealth or resources. It is deepening the divide between the haves and have-nots. A few influential individuals have all the resources, while millions struggle to make a decent living. Furthermore, the elite have devised an extremely complex business system and environment to strengthen their control over the economic system and resources. This system has given birth to rampant corruption and deep-rooted rent-seeking behaviour. It only works for the powerful or those who can afford to offer bribes. Environmental degradation, particularly climate change, is another issue that is worsening over time. Climate change-related disasters, such as floods and droughts, are regular visitors. Pakistan is still struggling to recover from the impacts of the 2022 floods, and there is a prediction that Pakistan will again face floods. On the other hand, climate change is severely impacting agriculture, which is threatening Pakistan's food security and economy. Farmers are bearing the brunt of climate change. Poor governance and attitude of the government have left farmers vulnerable to the impacts of climate change. In conclusion, Pakistan needs to be mindful that its heyday can be limited if it does not address these issues. The writer is a political economist and a visiting research fellow at Hebei University, China
Express Tribune
5 days ago
- Business
- Express Tribune
Pak expects breakthrough in US tariff talks
A delegation led by Finance Minister Muhammad Aurangzeb held a meeting with US Secretary of Commerce Howard Lutnick and United States Trade Representative Ambassador Jamieson Greer in Washington DC om Friday. Photo Express A delegation led by Finance Minister Muhammad Aurangzeb held a productive meeting with US Secretary of Commerce Howard Lutnick and United States Trade Representative Ambassador Jamieson Greer in Washington DC om Friday. Both sides expressed satisfaction with the progress in enhancing trade and economic ties, a cornerstone of Pakistan-US bilateral relations. They reaffirmed their commitment to exploring opportunities to strengthen these ties in all possible areas of mutual benefit. Aurangzeb emphasized that the US remains Pakistan's largest trading partner and underscored Pakistan's interest in expanding cooperation in both traditional and non-traditional sectors, including IT and tech sector, minerals, and agriculture, to foster a mutually beneficial relationship. Both parties expressed optimism that ongoing trade talks would yield positive outcomes, benefiting the economies of both countries.
Deccan Herald
5 days ago
- Business
- Deccan Herald
Pakistan finance minister meets US officials for trade talks
"Both sides expressed satisfaction with the progress in enhancing trade and economic ties, a cornerstone of Pakistan-US bilateral relations," Pakistan's finance ministry said in a statement.
