Pakistan is currently facing significant economic challenges, including a crippled economy, depleting foreign reserves, and a balance of payment crisis. However, the recent decision to enter into barter trade agreements with Iran, Russia, and Afghanistan is a stroke of genius and showcases the best of creativity. This out-of-the-box strategy is truly remarkable. Barter trade allows Pakistan to exchange a wide range of products without the need for foreign reserves in either swap currency or U.S. dollars. This relieves pressure on the decreasing foreign currency reserves. The products available for exchange include natural gas, petroleum, fruits, nuts, rice, milk, vegetables, confectionery, sports goods, electrical items, textiles, pharmaceuticals, and leather. Students Made To Wear Hijab At Madhya Pradesh School, Police Case Filed Modi Likely To Visit Egypt This Month For more such Opinions click here. The inclusion of pharmaceutical items in the barter trade will empower the local sector to produce medicines, particularly life-saving and general drugs that are either in short supply or have been discontinued due to a lack of ingredients. Both state-owned and privately-owned entities can participate in the barter program after receiving clearance. It is worth noting that this agreement comes at a time when Pakistan has less … Continue reading Bartering Our Way Out of the Dollar Trap