Pak-US Economic Progress Ties Step Ahead: PTI Demands Transparency in Mineral Export

ISLAMABAD: Pak-US economic ties are strengthening with the export of rare earth minerals.

Pak-US trade agreement:

The recent economic development between Pakistan and the US has raised concerns in the opposition party. PTI asked for transparency in the import-export business with the US. 

In September, the US Strategic Metals (USSM) signed an MoU with Pakistan. As per this agreement, roughly $500 million will be used to establish mineral processing and development facilities in the US. To act upon this deal, the first consignment is sent to the US to advance the mineral deal. 

According to the sources, the export of minerals will eventually be fruitful for Pakistan. The first shipment is prepared along with the Frontier Works Organisation (FWO). The first consignment includes antimony, copper concentrate, and rare earth elements such as neodymium and praseodymium.

The USSM issued a statement that clearly reflects that the first consignment of the mineral exports will foster Pak-US economic ties. The statement stated, “The first consignment is a milestone in the Pakistan–US strategic partnership. It noted that the MOU establishes a roadmap for cooperation across the entire mineral value chain from exploration and processing to the establishment of refineries inside Pakistan.”

The USSM CEO, Stacy W. Hastie, said that the organisations from both countries to foster trade progress between both nations are working day and night. Hastie said, “The first consignment delivery opens an exciting chapter of collaboration between USSM and Pakistan’s Frontier Works Organisation, aimed at expanding trade and deepening friendship between our two countries.”

The current agreement plays a major role for Pakistan in maintaining progress in the country. It is beneficial in so many ways, as Pakistan will generate revenues in millions of dollars. It will open new job opportunities for the vast population. 

Pakistan stands in the list of countries that are naturally enriched with mineral resources. The mineral wealth of the country is estimated at around $6 trillion. The agreement will help the US to get access to the key raw materials for growth and development in the country.

PTI’s urge to disclose secret trade-deal agreement: 

In Pakistan, not all political parties support the trade deal agreement. Pakistan Tehreek-i-Insaf is not satisfied with this agreement. According to PTI, the agreement will not be good enough to bring Pakistan into line with progress.

PTI Information Secretary, Sheikh Waqqas Akram, said that the government should disclose all the clauses of the trade agreement with the US. While talking about the USSM shipment, he rejected all the claims published by the Financial Times. He said that “reckless, lopsided, and secretive agreements would further inflame the already volatile situation in the country.”

Akram said that the details of this agreement should be disclosed, and the government should earn the trust of its people first to continue working on the trade agreement with the US. He said, “All details of all such deals should be made public. PTI would never accept agreements struck at the expense of the people and the state’s interests.”

The Financial Times claimed that the trade agreement is a commercial idea rather than an official policy. Military sources nullify these reports.

Akram briefed that the government should learn about the decades-old condition of the Mughal emperor, who allowed the British to trade in the country, which eventually resulted in colonial control.