KARACHI, Pakistan (Reuters) – Pakistan has passed a special order to allow barter trade with Afghanistan, Iran, and Russia for certain goods, the Ministry of Commerce said on Friday.
Pakistan is in the midst of a crippling economic crisis and has foreign exchange reserves to cover just a month of imports.
The order, called the Business-to-business (B2B) Barter Trade Mechanism 2023, allows for the import of gas and petrol from Iran and Russia through barter, amongst other goods.
In April, Pakistan made its first purchase of discounted Russian oil. However, there was no confirmation about the mode of payment.
(Reporting by Ariba Shahid and Asif Shahzad; Editing by Christina Fincher)
