The United States and Pakistan say they have reached a trade agreement that is expected to allow Washington to help develop Pakistan’s largely untapped oil reserves and lower tariffs for the South Asi

The United States and Pakistan hailed a trade deal on Thursday that Islamabad said would lead to lower tariffs and increased investment, but without specifying the level of tariff to be levied on Pakistani exports.

India is the world’s third-largest consumer of crude oil and depends on imports to meet around 88 per cent of its requirement of the commodity.