Pakistan approves the barter trade model to address dollar woes

A proposal to encourage barter trade has been adopted by the Federal Cabinet in order to boost regional trade in Pakistan.

Syed Naveed Qamar, the federal minister of commerce, has praised the barter trade model as one that might increase all exports from the nation.

He said that the barter trade will be enhanced with Iran and Afghanistan as well as with the central Asian countries and Africa.

China could be included in the barter trade, according to the commerce ministry.

According to Naveed Qamar, the barter trade might be expanded to billions of dollars and ease import restrictions.

The European Union, the United States, the United Kingdom, and the Middle East could not be added to the barter system, according to a federal minister.

He claimed that countries with financial issues may employ this trade model.