Taliban denies Pak minister's statement of commerce with Afghanistan in Pakistani currency

The Taliban has denied a claim made by a high-ranking Pakistani minister that trade between the two nations would be conducted in rupees under a currency swap agreement. According to Samaa TV, citing Afghan news sources, Ahmadullah Wasiq, a member of the cultural commission said that transactions between the neighbouring nations will be in Afghanis.

This declaration comes a day after various reports claimed that Pakistan would soon begin trading in rupees with Afghanistan, perhaps alleviating the latter's rising current account deficit. Wasiq responded that reports claming that large business will be done in Pakistani currency were false. He went on to say that the Taliban valued their national identity and would never make a move that would harm their country's monetary and spiritual interests.

Pak Minister's announcement: Commerce with Afghanistan will be in rupees

Pakistan's Minister of Finance and Revenue, Shaukat Tarin, informed the Senate Standing Committee on Finance earlier this week that commerce with Afghanistan will now be in rupees because the country wants to conserve its dollar reserves. The Pakistan Businesses Forum's vice president, Ahmad Jawad, described it as a positive step for the country's imports as well.

He said, "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." According to The Express Tribune, Jawad added that the Pakistan government should organise a task force with officials from the commerce ministry and other financial institutions to compile a list of nations with whom Islamabad may contemplate dealing in rupees.

Mian Anjum Nisar, former president of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), said that their economy is at a crossroads in the wake of a dramatic drop scene of the US-led war in Afghanistan with the return of the Taliban back to power. He further said that in this crisis, Pak-Afghan trade can be multiplied manifold if the irritants are removed and traders are facilitated.

The majority of Pakistan is happy with the Taliban's control of Afghanistan

According to a Gallup study, the majority of Pakistanis have reacted positively to the Taliban's control of Afghanistan. In a survey of 2,400 people in Pakistan, 55 per cent stated they were satisfied with the Taliban's control of Afghanistan. Only 25% claimed they were dissatisfied with the Taliban takeover.

(Inputs from ANI)

Image: @WasiqAhmadullah/Twitter