Karachi:Pakistan Business Forum (PBF), following Donald Trump’s victory in the 2024 US presidential election, on Thursday expressed optimism that his policies could offer economic benefits for Pakistan.
PBF, according to a statement issued here, is cautiously hopeful that Trump’s proposed tariffs on imports from various countries, along with the potential resolution of ongoing global conflicts, could lead to lower freight and oil prices-both of which would positively impact Pakistan’s economy.
President PBF, Khawaja Mehboob ur Rehman anticipated that Trump’s focus on boosting the US manufacturing sector will lead to higher tariffs on certain imports, especially goods sourced from Chinese plants that are being relocated elsewhere.
Mehboob pointed out that since Pakistan does not have many such manufacturing plants, it is unlikely that textile exports from Pakistan will face significant tariff impacts. Instead, tax cuts in the US could stimulate demand, which would be a positive sign for Pakistani exports, h
e noted.
‘However, changes in the US government alone are unlikely to result in significant increases in foreign direct investment into Pakistan,’ he emphasized and argued that to attract more local and international investment, Pakistan must focus on improving the business environment by enhancing security, reducing taxes, and addressing energy costs.
PBF Chief Organizer, Ahmad Jawad highlighted several positive aspects of Trump’s pre-election statements, such as his stance on eliminating income tax, raising import tariffs, and seeking resolutions to conflicts like the Ukraine-Russia war and the Israel-Palestine crisis.
Jawad expressed hope that if Trump delivers on these promises, Pakistan could benefit from lower shipping freight, reduced oil prices, and cheaper raw materials and finished goods-creating a more favorable environment for Pakistani exporters. He also pointed out that higher tariffs on imports from China, Iran, India, and Turkey could open up new trade opportunities for Pakistan.
Senior Vi
ce President PBF, Amna Munawwar Awan was hopeful of reinforced US-Pakistan bilateral ties in the Trump regime. Trump’s victory reflected a strong belief in his leadership, with Americans supporting him in part due to his criticism of ongoing wars, she noted and suggested that Trump could play a pivotal role in fostering peace by addressing global conflicts, ultimately benefiting Pakistan as well.
Amna also emphasized on substantial improvements in business climate of the country to fully capitalize on these opportunities.