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, he 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.—APP
