Pakistan is considering to expanding the scope of its currency swap agreement with Turkey from central to the schedule banks level.
This the central bank officials told a meeting held here at TDAP office by the ministry of commerce and Trade Development Authority of Pakistan (TDAP) to create awareness about the government’s ongoing efforts for having currency swap arrangements with Islamabad’s trading partners, specially the regional ones.
“The lenders would further be extended to the scheduled banks which would provide necessary financing to the traders in the two countries,” M Ali Malik, an SBP director, told the meeting.
The current mechanism of swap arrangements with Turkey, he said, would be based on borrowing and lending arrangements between the central banks of the two countries.
Malik said the arrangement was necessitated because there was no liquidity available with the two countries in terms of local currencies and nor there was such any deposit base available.
Trade a la Kiev!
ISLAMABAD
ONLINE
The bilateral trade between Ukraine and Pakistan is around $180million which was very low as compared to potential and needs to further improve.
Volodymyr Lakomov, Ambassador of Ukraine in Pakistan, made these remarks in a meeting with Yassar Sakhi Butt, President, Islamabad Chamber of Commerce and Industry (ICCI) on Monday. Hes aid that Pakistan and Ukraine have great potential of trading and investment in many sectors, which are needed to be exploited through greater co-operation between the two countries. He said that Ukraine is rich in mineral, energy resources and mechanical products like airplanes, turbines, locomotives and tractors.