Sino-Pak trade in local currencies to entirely change pattern of dollar based economy

Faisalabad – President Faisalabad Chamber of Commerce & Industry (FCCI) Syed Zia Alumdar Hussain said that the recent visit of Prime Minister Imran Khan to China will have far-reaching positive impacts on national economy.

Immediately after six billion dollar Saudi bailout package, the decision to link Pakistan and Chinese export with local currencies is a historic decision which would entirely change the pattern of dollar based economy, he added.

Talking to APP, he said that it is actually first and most practical step to get rid of the begging bowl.

He said that Pakistan is importing different items worth 12 billion dollars from China. “Similarly, our exports to China are around 2 billion dollars”, he said and added, “Now we could have alternate currencies to make foreign payments of at least 14 billion dollars immediately”.

Appreciating signing of 15 MoUs, he said that China was importing food items of 100 billion dollars. “We could easily get 2 to 4 billion dollar share from this import of China as it is ready to give us special incentives and concessions. It will be a big achievement for Pakistan”, he remarked.

He said that economic problems being confronted by Pakistan could easily be settled. “We need focused approach and dedication in making proper and in-time decision”, he said and appreciated the austerity campaign of present government.

He also appreciated fencing of Pak-Afghan border and said that it will not only further improve the law and order situation but also discourage the menace of smuggling that has plagued national economy.

Regarding stock market, he said that previous government artificially stabilized it. However, now it is in its real state of affairs and a healthy bullish trend is prevailing, he said.

"Monitoring Desk"

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