Monday, 18 October 2021

Pakistan to use own currency for trade with Afghanistan

Pakistan to use own currency for trade with Afghanistan

Pakistan now wants to control the Afghanistan economy after entering the Afghan army and intelligence. On Thursday, Pakistan announced its economic plans for Afghanistan and has decided to conduct bilateral trade with the Taliban in Pakistani rupees.

Earlier, the Taliban bilateral trade between Pakistan and Afghanistan was in US dollars, and the Afghan currency was powerful. Through this move, Pakistan's money will have a hold over Afghan traders and the business community.

The country was still reeling from the Taliban takeover last month. The new government must avoid an economic meltdown at any cost as 80 percent of Afghanistan's budget comes from the international community. While a long-running financial crisis has worsened in recent months, the Taliban can hardly afford isolation. The Taliban announced its all-male interim government on Tuesday and may hold its inauguration ceremony on September 11 – 20th anniversary of the 9/11 terrorist attacks in the US.

Top sources said this was Pakistan's attempt to enter the Afghan economy, as it was already in the army and intelligence. After the introduction of Pakistan's currency, the value of the Afghan currency will drop, sources added.

Pakistan to use own currency for trade with Afghanistanpixabay image

Read More Panjshir captured claimed by Taliban; Resistance leaders deny claims

Once that happens, all trade and business will be dependent on Pakistan's price and volume while forcing the Taliban to send their drugs only to Pakistan, sources said.

A few days ago, Pakistan ISI chief Hamid Faiz was in Kabul as Pakistan was looking to enter the new Taliban regime. Faiz's Kabul visit aimed to get the Haqqanis in the running to revamp the Afghan army, which competes for disarray after the Taliban takeover.

Pakistan's Inter-Services Intelligence is regarding as being a patron of the Haqqani Network, which happens to be an UN-and US-designated terror group, along with its nexus to the Al Qaeda. Siraj Uddin Haqqani, who headed the feared Haqqani network, has been appointed to the critical post of interior minister.

Many have accused Islamabad of aiding the Taliban's assault on Panjshir. Also, Afghanistan's previous government routinely accused Pakistan of aiding the Taliban, a charge Islamabad has denied.

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