Pakistan Traders Seek Formal Banking Channels With Iran

The State Bank of Pakistan (SBP) has not opened any formal banking channels with Iranian and Russian markets due to which their potential cannot be tapped, says the Pakistan Business Forum (PBF).
PBF Vice President Ahmad Jawad said, “The SBP should facilitate exporters, especially for the Iranian and Russian markets, by issuing timely e-forms and making special arrangements for banking channels,” The Express Tribune reported.
“The Iranian market can absorb between 60,000 to 80,000 tons of kinnow a year, while the size of the Russian-Ukrainian-Belarus market (the largest citrus importer in the world) for the Pakistani citrus fruit can be doubled within no time from the present 50,000 tons provided the government establishes formal banking links,” observed Jawad.