Barter trade potential: Ministry works out exports at $1.2bn, imports at $2bn
ISLAMABAD: Pakistan has the potential of exporting goods worth $1.153 billion and importing goods of $2.032 billion per annum under barter trade with Iran, Afghanistan and Russia, discloses a working of the commerce ministry. In the barter trade, no monetary transactions are involved as it is merely the trading of goods or services between two or more parties. In essence, bartering involves the provision of one good or service by one party in return for another good or service from another party. The government issued a statutory regulatory order (SRO) on June 1, under which the import and export of goods under B2B barter trade with three countries, Afghanistan, Iran and Russia, has been allowed. Pakistan is facing a serious dollar liquidity crunch. Afghanistan’s Taliban regime is not being accepted by big economies, including the US. Iran is facing US sanctions on its nuclear ambitions and Russia is also facing the G7 countries’ sanctions and regulations because of the war against Ukraine.
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