Single currency move blocked

Published January 4, 2004

ISLAMABAD, Jan 3: Pakistan on Saturday blocked India's attempt to bring its proposal for a single South Asian currency on to the agenda of the upcoming regional summit, a Pakistani official said.

The Indian proposal was taken up on Friday by foreign ministers as they began a two-day meeting to pave the way for the 12th summit of the seven-nation South Asian Association for Regional Cooperation (Saarc).

Pakistan, which considers the single currency idea as positive but premature, had the item deleted from the final report of the foreign ministers' meeting on Saturday, the official told AFP on condition of anonymity.

"Pakistan believes the Indian move is politically far-fetched."

The ministers wrapped up their talks on Saturday after finalising key agreements. Prime Minister Zafarulla Khan Jamali is due to open the three-day summit on Sunday morning.-AFP

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