Home Economy Pakistan may use own currency for trade with Afghanistan

Pakistan may use own currency for trade with Afghanistan

The Pakistan finance minister said the Taliban government in Afghanistan, facing international embargo, did not have an adequate reserve of dollars

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Pakistan: May use Pakistani currency for trade with Afghanistan instead of US dollar

Pakistan wants to control Afghanistan’s economy after the country gained entry into the Afghan army as well as intelligence. Yesterday, Pakistan announced its economic plans for Afghanistan. It has decided to conduct bilateral trade with the Taliban in Pakistani rupees.

Earlier, the Taliban bilateral trade between Pakistan and Afghanistan was in US dollar, and the Afghan currency was powerful. Through this move, Pakistan’s currency will have a hold over Afghan traders and the business community.

Pakistan Finance Minister Shaukat Tarin made the comments, addressing a session of the Senate Standing Committee where he talked about the future framework of trade between Pakistan and Afghanistan, according to local media reports.

Tarin stated that Pakistani currency, instead of the US dollar, would be used for bilateral trade with Afghanistan.

The Pakistan finance minister said that the recently formed Taliban government in Afghanistan was facing an embargo by international financial institutions and hence did not have an adequate reserve of US dollars.

Tarin’s remarks on sending people to Afghanistan drew a sharp reaction from social media users, especially since the recent visit of the ISI chief Faiz Hameed to Kabul is fresh in public memory. The visit highlighted before the world the Pakistan hand behind the Taliban.

On 6 September, the Taliban announced their cabinet as the group formally announced their government after taking over Afghanistan in a sustained offensive last month.

“It is just an ‘acting’ government that will be led by Mullah Mohammad Hassan, the little-known head of the Taliban’s leadership council. Taliban co-founder Mullah Abdul Ghani Baradar, the face of the Islamist group, will serve as his deputy,” said Taliban spokesperson Zabihullah Mujahid during a press conference in Kabul.

Pakistan’s Inter Services Intelligence is regarded as a patron of the Haqqani network, which happens to be a UN-and US-designated terror group, along with its nexus to the al Qaeda. Sirauddin Haqqani, who headed the notorious Haqqani network, has been appointed to the key post of interior minister.

The Taliban seized power in Afghanistan on 15 August, two weeks before the US was set to complete its troop withdrawal after a costly two-decade war. The insurgents stormed across the country, capturing all major cities in a matter of days, as Afghan security forces trained and equipped by the US and its allies melted away.

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