- Pakistan faces a potential price of 29% on exports to us.
- Kamal no longer gives details on the mining tender process.
- Reko Diq is looking for up to $ 2 billion in funding.
Islamabad: Pakistan plans to offer concessions to American companies to invest in its mining sector as part of the negotiations with Washington on the prices, said its Minister of Commerce ReutersAs Islamabad seeks to capitalize on the interest of the Trump administration to stimulate trade with South Asia.
Pakistan faces a potential 29% tariff on exports to the United States due to a trade surplus of $ 3 billion with the largest economy in the world, under the prices announced by Washington last month on the countries of the world. The prices were then suspended for 90 days so that negotiations can take place.
Federal Minister of Commerce Jam Kamal said ISLAMABAD will offer American companies opportunities to invest in mining projects mainly in Baloutchistan through cotentreprises with local businesses, offering concessions such as rental subsidies.
The Minister said this would be added to efforts to increase imports from the United States, especially cotton and edible oils, which are currently broken in Pakistan.
Pakistan would put its offer of concessions for mining investments to US officials during interviews on prices in the coming weeks.
Kamal did not give more information on the tender process of these mines or other details.
“There is an unexploited potential for American companies in Pakistan, minor machines for hydrocarbon companies,” he said in an interview with Reuters led Thursday.
The Reko Diq Copper and gold operating project in Balutchistan requires up to $ 2 billion in funding, including 500 to 1 billion dollars from the American export bank, with expected term sheets at the start of the third quarter of this year, said its project director to Reuters last month.
The mine could generate $ 70 billion in available cash flows and $ 90 billion in operating cash flows during its lifespan.
US President Donald Trump said he was working on “big business” with India and Pakistan, after Washington’s key role in negotiating a ceasefire between Pakistan and India earlier this month after the worst fights for decades between nuclear weapons.
“The previous American administration has focused more on India, but Pakistan is now recognized as a serious trading partner,” said Kamal.
Pakistan will gradually reduce the prices in its next federal budget, said Kamal.
He said the United States had not specified commercial barriers or priority sectors. The United States Embassy in Islamabad did not immediately respond to a request for comments.
