Pakistan and Iran to revert to barter trade

Karachi: (Tuesday, August 07, 2012) Pakistan and Iran, two cash starved neighbours have finally found out a solution for their depreciating foreign exchange reserves while keeping their usual trade volume unaffected. According
to the sources, Iran will buy wheat from Pakistan in exchange of fertilizer and pig iron.

By now, an agreement for purchase of hundred thousand tons of wheat has been finalized, confirmed the sources.

Commenting on this recent development, ministry of food officials said that Pakistan will export wheat to Iran at $300 per ton and the first shipment to Iran is expected to made by the end of the ongoing month.

An Irani contingent, in this regard, is expected to visit Pakistan soon to inspect the quality of wheat.

Food experts in the country are of the view that Pakistan has at least 2 million tons of spare wheat which can be exported.

Short URL: https://www.newspakistan.pk/?p=30487

Posted by Fayyaz Yaseen on Aug 7 2012. Filed under Business, Pakistan, World. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry