Islamabad says US assured Pakistan to help in stabilizing economy


The US has assured Pakistan to help in stabilizing its economy as the South Asian country is facing a political and economic crisis, Islamabad said on Thursday.

Pakistani Foreign Minister Bilawal Bhutto Zardari meet US Secretary of State Antony Blinken in New York and discussed bilateral relations between Islamabad and Washington, the Pakistani Foreign Ministry said in a statement.

Zardari arrived in New York on Tuesday on his first visit at the invitation of Blinken to participate in the ministerial meeting of the Global Food Security Call to Action.

The top two diplomats expressed satisfaction over the ongoing bilateral engagement in different areas including trade, investment, climate, energy, health, and education.

Zardari briefed his counterpart about the current situation of Pakistan’s economy and Blinken said Washington would be supportive of Islamabad’s efforts to stabilize its economy, according to the statement.

On Wednesday, the US dollar hit an all-time high against an already debilitated Pakistani rupee, rising past 200 in the open market.

The greenback that began its streak against the Pakistani rupee last month – following an ongoing political crisis, which also saw the ouster of former Prime Minister Imran Khan’s government through a successful no-trust motion – traded at Rs 200.5 in the open market.

The government announced a ban on the import of luxury products from abroad to control the depleting foreign reserves.

During the meeting, Blinken also assured Zardari that Washington would support Islamabad to make its technology industry more productive.

“Pakistan will work with the US administration to improve trade relations and create opportunities for American and Pakistani investors, businessmen, and entrepreneurs to work together,” Zardari said.

The two sides also expressed their resolve to work on their shared objectives of a peaceful and stable Afghanistan.

The Pakistani foreign minister also stressed the importance of effective ways to address the threat of terrorism.

“Conflicts can be very traumatic for nations as was evident from the prolonged struggle against international terrorism, which had affected our region and beyond,” Zardari said.

He also expressed his concern over the growing Islamophobia and gross human rights violations in Indian-administered Kashmir and ongoing actions against minorities in India, saying it “threatens regional peace and stability.

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