Pakistan Unisame Recommends Barter Trade with Iran

The Pakistan Union of Small and Medium Enterprises (Unisame) has urged the ministry of commerce to facilitate barter trade with Iran as trade ties are re-established between the commerce ministries of both countries, a statement said on Monday. Unisame president Zulfikar Thaver apprised that Iran is ready to buy big quantities of different varieties of Pakistani rice in exchange for diesel and oil. In this regard the Pakistani exporters have approached the trading corporation of Pakistan (TCP) to play its role, it would not be possible for any single firm to manage the transaction on its own as the quantity is big. Thaver recommended that the TCP could secure the order and allocate it to the several Small and Medium Enterprises (SME) exporters to ship the rice and the TCP could in return import diesel and distribute it to the dealers. The Unisame has sought guidance from Agro director general Dr Kausar Zaidi and Ministry of Commerce additional secretary Maria Kazi to give necessary permission to the TCP to play its role and facilitate the barter trade, he said. The Unisame Council has also urged the State Bank of Pakistan (SBP) to outline exchange facilities with the Central Bank of Islamic Republic of Iran. - Bolnews