Surprisingly, Pakistan’s exports to the US increased during former Prime Minister Imran Khan’s term, despite his frequent accusations that the US was pursuing a “regime change campaign” in the nation.
Pakistan’s Ambassador to the United States, Masood Khan, revealed on Saturday that Pakistan’s year-on-year exports to the US increased by 23%, and the overall volume of exports managed to cross $5 billion for the first time last year mostly during the time when Imran Khan’s govt was in power.
Imran’s claims that he was deposed as part of a ‘US-orchestrated scheme’ for purportedly following an independent foreign policy do not appear to coincide with the country’s increasing exports to the US.
During the previous fiscal year, exports increased to $6.16 billion in the July-May 2021-22 period, according to Ambassador Masood, adding that June statistics, which are still pending, will increase the entire number of total Pakistani exports to the US.
“The United States is a key commercial partner and Pakistan’s single largest export destination.” “The increase in our exports is a really encouraging trend,” he continued.
According to the ambassador, Pakistan’s imports from the United States totalled $2.4 billion in the previous fiscal year. He stated that they climbed to $2.72 billion between July and May 2021-22, noting that imports from the United States increased little but exports increased dramatically.
According to Masood, Pakistan’s overall exports to the US in the fields of services and information technology have surpassed $2 billion. He estimated that overall exports, including services and information technology, should exceed $8 billion.
“Pakistan’s IT sector has produced amazing success, thanks primarily to entrepreneurs from the United States.” “It is ready to maintain its upward trajectory,” added the ambassador.
In his remark, Imran stated that the US wants to re-establish bases in Pakistan & use the nation against Russia, but Pakistan is not permitted to acquire cheap oil & gas from Russia, a requirement that does not apply to India.
Masood stated that Pakistan and the United States held an inter-sessional trade and investment meeting in March 2022, during which the United States’ Assistant Trade Representative, Christopher Wilson, and Pakistan’s Secretary of Commerce, Muhammad Sualeh Ahmad Faruqui, discussed ways to expand trade between the two countries.
He stated that both parties are planning a ministerial meeting under the Trade and Investment Framework (TIFA) this summer or early fall.