Following a significant cut in US reciprocal tariffs from 29% to 19%, Pakistani exporters have urged the government to ensure consistent policy support, competitive production costs, and easier access to raw materials to maximise the country’s export potential in the American market.
The development came during a meeting on US Reciprocal Tariffs chaired by Federal Minister for Commerce Jam Kamal Khan, a statement released by the Ministry of Commerce read on Tuesday.
The meeting was attended by Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan, Coordinator to the Prime Minister on Commerce Rana Ihsaan Afzal, Secretary Commerce Jawad Paul, senior officers of Commerce Division and Industries and Production Division, and over 30 leading exporters and SMEs from various sectors including apparel and textiles, rice, salt, surgical goods, sports goods, electronics, food and agriculture, leather, and more.
During the meeting, the industrialists congratulated the government on securing one of “Pakistan’s most strategic trade wins in recent years over its regional competitors”.
However, industry representatives urged the government to provide favourable and predictable policy support, aiming towards optimising the cost of manufacturing and access to the inputs to materialise the future business opportunities.
The Minister of Commerce pledged the government’s dedication to export-driven policies, encompassing both immediate support measures and sustained long-term strategies.
He emphasised that through enhanced collaboration and decisive actions, Pakistan’s export industries could achieve significant growth.
All recommendations from the exporters, he added, would be submitted to the Prime Minister for consideration.
During the meeting, Kamal said that exporters’ feedback on the opportunities provided by the tariff reduction necessitates charting a way forward to avail this opportunity and boost exports.
Meanwhile, SAPM Haroon Akhtar underscored Pakistan’s regional advantage and shared that the government is committed to extending maximum support to the industry to untap business opportunities arising out of the current circumstances.
