Economic Delegation Urged to Address U.S. Trade Opportunities: Malik Khuda Bakhsh

Karachi: Malik Khuda Bakhsh, President of the Pakistan Business Forum (Karachi Region) and Convenor of the FPCCI Energy Standing Committee, has called for a strategic economic delegation to the United States. This comes in light of recent reductions in electricity rates, which he believes will bolster Pakistan’s industrial sector and export capabilities.

Bakhsh congratulated Prime Minister Shahbaz Sharif and Army Chief General Asim Munir for their roles in stabilizing the national economy and preventing default. He noted that the decrease in electricity rates is expected to provide significant relief to consumers and enhance the country’s export potential.

Bakhsh addressed the tariffs imposed by the U.S. on Pakistani goods, characterizing them as both a challenge and an opportunity for increased trade relations. He suggested that Pakistan could leverage these tariffs to strengthen its economic ties with the U.S. by prioritizing the export of soybeans, cotton, scrap, and petroleum products.

In a bid to address these trade barriers, Bakhsh recommended forming a government committee led by the Finance Minister. This committee, comprising prominent figures like Dr. Gohar Ejaz, S.M. Tanveer, Atif Ikram Sheikh, and Saqib Fayaz Magon, would engage in negotiations with U.S. officials to devise effective trade policies.

Bakhsh urged the immediate dispatch of an economic team to the U.S., led by the Finance and Commerce Ministers, to negotiate these tariffs and explore opportunities to expand Pakistani exports. He emphasized the importance of diversifying export markets and increasing value addition, given the U.S.’s status as Pakistan’s largest export market and a significant trade partner.