KARACHI -- Pakistan's bailout deal with the International Monetary Fund has brought a degree of relief to the cash-strapped country, but another aspect of Islamabad's strategy for easing its economic crisis is bearing little fruit so far.
The Pakistani government in early June authorized barter trade with Afghanistan, Iran and Russia -- encouraging direct exchanges of goods and services without cash as a way of reducing pressure on rapidly dwindling foreign reserves. The Commerce Ministry released a list of 57 eligible products, including oil and gas, under what is called the Business-to-business (B2B) Barter Trade Mechanism 2023.
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