City
Epaper

Taliban reject Pak minister's claims on trade in Pakistani rupee

By ANI | Updated: September 12, 2021 16:20 IST

The Taliban have rejected a claim by a high ranking Pakistani minister that trade between the two countries would be in rupees under a currency swap arrangement, local media reported on Sunday.

Open in App

The Taliban have rejected a claim by a high ranking Pakistani minister that trade between the two countries would be in rupees under a currency swap arrangement, local media reported on Sunday.

Ahmadullah Wasiq, a member of the cultural commission, said the transactions between the neighbouring countries would be in Afghanis, Samaa TV reported citing Afghan news sources.

This statement comes a day after multiple reports suggested that Pakistan would soon start trading with Afghanistan in rupees that may ease the burden on the former's growing current account deficit.

Reacting to the reports, Wasiq said that there was no truth in the news that big business would be done in Pakistani currency. He even added that the Taliban attached importance to their national identity and they would never make a decision detrimental to the material and spiritual interests of their country.

Earlier this week, Shaukat Tarin, Pakistan's Minister of Finance and Revenue, told the Senate Standing Committee on Finance that trade with Afghanistan would be in rupee now as the government wanted to save its dollar reserves.

Ahmad Jawad, Pakistan Businesses Forum's vice president, called it a good move for the country's importers too. "In a currency swap arrangement, countries that buy from each other pay in their respective currency at a pre-determined exchange rate instead of trading in US dollar. This helps save foreign exchange and strengthens their currencies," he added.

Jawad had said that the Pakistan government must form a task force with representatives of the commerce ministry and other financial bodies to prepare a list of countries with which Islamabad could consider trading in rupees, The Express Tribune reported.

Mian Anjum Nisar, former president of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) said, "Our economy is at the crossroads in the wake of a dramatic drop scene of the US-led war in Afghanistan with the return of Taliban back to power, but in this crisis, Pak-Afghan trade can be multiplied manifold if the irritants are removed and traders are facilitated."

( With inputs from ANI )

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Tags: Jawad AhmadpakistanislamabadTalibanSamaa newsDhs punjabSamaa news tvTalibansSamaa tvShaukat tarinTaliban movement
Open in App

Related Stories

Cricket'India Hamare Baap The..': Pakistani Fan Abuses Men in Green After Loss to India in Asia Cup 2025 Final (Watch)

CricketIND vs PAK 2025 Live Streaming: Head-to-Head Record, When and Where to Watch India vs Pakistan Asia Cup Final

Cricket'Abhishek Sharma Bigger Talent Than Yuvraj Singh': Former Pakistan Cricketer After IND vs PAK Match in Asia Cup 2025

Cricket'He Could Have Taken Side Angle': Former Cricket Umpire on Fakhar Zaman's Dismissal in IND vs PAK Super 4 Match of Asia Cup

Other SportsAfter Haris Rauf and Sahibzada Farhan, Pakistani Footballer Stirs Row With Controversial Gesture During IND vs PAK SAFF U17 Match (VIDEO)

International Realted Stories

International"Pure partisan politics played by Democratic party: White House on US govt shutdown

InternationalAfghanistan restores internet after 72-hour nationwide blackout

InternationalIndia to host Conclave of Army Chiefs of UN Troop Contributing Countries in Delhi from Oct 14-16

InternationalUS should deepen defence ties with India to counter China, says expert

InternationalUKPNP raises alarm over humanitarian crisis in PoJK at UNHRC session in Geneva