ISLAMABAD: SAARC Chamber of Commerce and Industry has warned that Afghan currency can go into a free fall and the country may lose 30 percent of its GDP within the year if frozen reserves are not provided immediately. This was stated by the President SAARC Chamber of Commerce and Industry Iftikhar Ali Malik on Sunday while talking to a traders delegation led by Chaudhry Kaleem Ullah Anjum Arain. He said this money is critically needed to sustain, stabilise and revive the Afghan economy and to save millions of lives of poor and hungry Afghan children,women and men. He said this would be the most effective and generous display of solidarity with the people of Afghanistan. TLTP
He underlined the need to jump -start Afghanistan’s economy through increased liquidity and called upon the world, especially Europe and the US, to pull the economy back from the brink by freeing up entire frozen currency reserves and re-engage Afghanistan Central Bank. Malik said international funding must be allowed to pay the salaries of public sector employees, he said adding that the Afghan economy was enduring a bitter winter of its own.
He said that Pakistan, on the request of the SAARC Chamber, has abolished the majority of taxes on Afghan transit trade while remaining customs duties are highly slashed to maximum extent to provide solace to traders of the war-torn country. He said Prime Minister Imran Khan also allowed certain items for Pak-Afghan trade in Pakistani rupee with a sole objective of facilitating them, besides fully ensuring smooth flow of clearance of imported and exported items at land border points.
He said that Pakistan and Iran have shown unforgettable generosity in hosting millions of Afghans reminding the rest of the world to come forward and help Afghanistan. He said the 57 nation OIC which met in Islamabad recently resolved to work with the UN to get the entire frozen assets unlocked.
Malik said free supply of food and medicines consignments are being supplied to Afghanistan by Pakistan and pharmaceutical companies of Karachi and Lahore. He said President Anjuman Iranian Pakistan Mian Muhammad Saeed Deraywalay also announced to despatch a consignment of food items, cloths, medicines and essential utensils.
