Pakistan Government Should Implement Currency Swap Agreement With China & Turkey

Pakistan Peoples Party Senator Saleem Mandviwalla has said that government should implement Currency Swap agreement with China and Turkey. It is compulsory for us to increase the business, bilateral trade and export with both countries. This agreement was made by former president Asif Ali Zardari and signed with China and Turkey during his previous regime of PPP.

Former president made agreement with China of around $2 billion dollars and with Turkey of around $1 billion. But after the change of government this agreement not yet followed. That’s why both countries business communities and traders are facing lot of problems.

Finance Minister Ishaq Dar told that agreement will not effect on the national exchequer and it will increase external problem.

Further Saleem Mandviwalla stated that State Bank of Pakistan (SBP) is not providing any assistance to investor regarding agreement as well as commercial banks. While he underline the importance of China Pakistan Economic Corridor (CPEC) agreement explained that it is providing an opportunity for the implementation of CSA agreement. Through this agreement countries business communities, traders and investors are able to invest in each other countries. That’s why Federal Government and SBP should realize importance of this agreement.

By Talha Pasha

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