Directive to improve trade volumes under barter system
0
ISLAMABAD: The Ministry of Commerce was directed on Tuesday to fast-track amendments to boost barter trade with Iran, Afghanistan and Russia.
At its meeting, the Senate Standing Committee on Commerce, chaired by Senator Anusha Rehman, directed the ministry to expedite the necessary summaries for barter trade and the Import Policy Order (IPO). The meeting also discussed the mechanism to achieve the export target.
The committee members directed the ministry to resolve the confusion on trade with regional countries through a barter system compared to the parallel trade ongoing under the IPO.
Saleem Mandviwalla reiterated the strategic importance of barter trade in tackling cross-border smuggling. “Barter trade from Iran and Afghanistan will help prevent smuggling,” he claimed.
The representatives of affected traders informed the committee that over 1,200 trucks loaded with sesame and rice had been stuck at the border. The committee agreed to meet with the finance minister, commerce minister, and State Bank of Pakistan governor.
Published in Dawn, May 7th, 2025
