Pakistan allows barter trade with Russia, Iran and Afghanistan

Islamabad, Jun 2 (PTI) In a bid to ease the mounting pressure on its fast-depleting foreign reserves, cash-starved Pakistan has announced a barter trade agreement with Russia, Iran and Afghanistan for certain goods.

The Ministry of Commerce on Thursday issued the Statutory Regulatory Order (SRO) – a declaration outlining the procedure - allowing both state-owned and private enterprises to engage in goods-for-goods trade, with a specific requirement for private enterprises to be listed as active taxpayers by the Federal Board of Revenue (FBR).

It stated that authorised agents will submit applications through FBR’s online portal to initiate trade.