Pakistan decides to end reliance in US dollar and conduct trade in respective currencies

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Pakistan decides to end reliance in US dollar and conduct trade in respective currencies

ISLAMABAD - Finance Minister Asad Umar has said that the government has decided to reduce reliance on US dollar and start trade in bilateral currencies.

Government is making hectic efforts for revival of national economy and no stone will be left unturned in this direction.

He was addressing traders and businessmen at Chamber of Commerce and Industries in Quetta on Monday.

He said Pakistan is desirous of promoting trade ties with all the regional countries including India.

He added that the federal government would extend the fullest cooperation to Balochistan provincial government in resolving the problems being faced by peasants and traders.

Asad Umar said that the projects of establishing Special Economic and Export Processing Zones in Gwadar are swiftly being executed.

The Finance Minister further said that the cooperation of private sector in the ongoing projects under China Pakistan Economic would be encouraged.

Replying to a query, Asad Umar said a committee led by Minister of State for Revenues Hammad Azhar will be set up to work out comprehensive strategy to enhance volume of trade with brother Muslim country, Iran. He said that the committee would submit recommendations to the government in the light of its finding within thirty day.

Replying another question, Asad said the government is working to decrease reliance on US Dollar and conduct trade with the friendly countries in their respective currency.