PBF for trade with Afghanistan in local currency

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Pakistan Businesses Forum (PBF) on Tuesday urged the authorities concerned to take measures for trade with Afghanistan in Pak rupee, a move that can ease the country’s burgeoning current account deficit.

Talking to the media, PBF Vice President Ahmad Jawad said it would also be a good move for Pakistan’s importers to deal in rupee. “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 explained. He said the government must form a task force with representatives from commerce ministry, State Bank of Pakistan and Federation of Pakistan Chambers of Commerce and Industry (FPCCI) to prepare a list of countries with which Pakistan could consider trading in rupee.—APP

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