Pakistan’s top economic body amends barter trade mechanism with Afghanistan, Iran, Russia

Pakistan's Finance Minister Muhammad Aurangzeb (fourth-left) chairing a meeting of Economic Coordination Committee in Islamabad, Pakistan, on October 2, 2025. (Finance Division)
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Updated 02 October 2025
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Pakistan’s top economic body amends barter trade mechanism with Afghanistan, Iran, Russia

  • Barter mechanism helps Pakistan save dollars, secure imports from sanctioned countries
  • ECC also reviewed financial support proposal for New York’s Roosevelt Hotel owned by PIA

KARACHI: Pakistan’s Economic Coordination Committee (ECC) on Thursday approved amendments to a barter trade mechanism with Afghanistan, Iran and Russia, in a move aimed at facilitating direct business-to-business exchanges with the three countries.

The decision came at an ECC meeting chaired by Finance Minister Muhammad Aurangzeb, which also cleared a series of supplementary grants and considered a financial support proposal for the Roosevelt Hotel in New York owned by Pakistan International Airlines.

“The ECC approved a draft Statutory Regulatory Order (SRO) as proposed by the Ministry of Commerce, aimed at amending the Business-to-Business Barter Trade Mechanism governing bilateral trade with Afghanistan, Iran, and Russia,” the finance division said in a statement.

Pakistan has maintained barter trade arrangements with these countries not only to ease pressure on its dollar reserves and maintain access to essential imports but also because both Iran and Russia face Western sanctions, with formal banking channels restricted and making it difficult to settle payments in hard currency.

Barter trade provides a practical workaround by allowing Pakistan to exchange goods directly, such as rice, textiles and surgical equipment, in return for oil, wheat, fertilizers and machinery.

The arrangement also works with Afghanistan, a key overland trade route and source of basic commodities like coal, fruits and vegetables.

The ECC also considered a summary from the interior ministry regarding financial support in the form of a technical supplementary grant (TSG) to the Roosevelt Hotel in New York, following the termination of its lease agreement with New York City.

The hotel, a century-old Manhattan property, is considered one of the country’s most valuable foreign assets that the government has been striving to privatize, with interested international consortia submitting their bids last month to advise the government on the process.


Pakistan opposition to meet today as Imran Khan’s party rejects prison medical exam

Updated 21 min 56 sec ago
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Pakistan opposition to meet today as Imran Khan’s party rejects prison medical exam

  • Pakistan government conducted ex-PM Imran Khan’s medical examination in jail on Sunday over reports of his deteriorating eye condition
  • Khan’s family, PTI party have rejected the examination, saying that neither his family nor former premier’s doctors were invited to check-up

ISLAMABAD: An alliance of opposition parties will meet today, Monday, to determine its future course of action after former prime minister Imran Khan’s family and his Pakistan Tehreek-e-Insaf (PTI) party rejected a medical examination of the former premier conducted by the government, a spokesperson of the alliance confirmed. 

The superintendent of Adiala Jail, where Khan is incarcerated, said a team of expert doctors from various hospitals conducted a detailed examination of his eye on Sunday. The examination was held days after a lawyer, who was asked by the top court to visit Khan at the jail earlier this month to assess his living conditions, submitted a report in the Supreme Court. The report said the 73-year-old had suffered severe vision loss in his right eye due to central retinal vein occlusion, and that he was left with only 15 percent sight in the affected eye.

Khan’s PTI party and family have dismissed the medical examination, protesting that the government had carried it out without inviting the former premier’s family members or his personal doctors. 

“Opposition will meet during the next few hours to discuss the future line of action,” Sheikh Waqas Akram, the PTI’s central information secretary, told Arab News.

“We reject the examination that has been conducted in the absence of family or their nominated doctor.”

He said that while Khan’s family members and doctors were informed of the medical examination, “disallowing our doctor and family is aimed at hiding the truth.”

Akram said the government had rejected the family’s request for Khan’s sister Dr. Uzma Khan or Dr. Nausherwan Burki, a prominent physician based in Khyber Pakhtunkhwa, to be present during the check-up. 

He said Khan’s sisters and Dr. Burki will hold a press conference on Tuesday to apprise the media about the latest situation. 

Separately in a video statement, Khan’s physician Dr. Aasim Yousaf said he spoke to the two doctors who were treating the former premier at Adiala Jail on Sunday via a conference call. He said that as per their latest assessment, Khan had shown “significant improvement” due to the treatment and that his vision “had improved significantly as well.”

“I would be extremely happy if I was able to confirm that this was the case,” Dr. Yousaf said. “Unfortunately, because I have not seen him myself and have not been able to participate in his care or to talk to him, I’m unable to either confirm or deny the veracity of what we have been told.”

Dr. Yousaf appealed to the authorities to either allow him or Dr. Faisal Sultan, CEO of the Shaukat Khanum Memorial Cancer Hospital and Research Center, to care for Khan at the central prison in Rawalpindi. He also appealed to authorities to carry out Khan’s further treatment at Shifa International Hospital in Islamabad. 

Hussain Ahmad Yousafzai, a spokesperson of the Tehreek-e-Tahafuz-e-Ayin-e-Pakistan alliance, also confirmed that members of parliament from the opposition alliance are meeting to discuss the future course of action today. 

“The opposition meeting is going to discuss future line of action as our demand for moving Imran Khan to Al-Shifa International Hospital in Islamabad and treating him in front of the family has not been fulfilled,” Yousafzai said. 

’NOTHING TO WORRY ABOUT’

Speaking to lawyers in the eastern city of Ferozewala, Law Minister Azam Nazeer Tarar said one of Khan’s eyes has around 70 percent vision with corrective glasses, while the other has “normal” 6/6 vision.

“The latest report being discussed today has been re-examined as per the Supreme Court’s order,” he said. “There is nothing to worry about.”

Separately, the Supreme Court disposed off a petition by PTI lawyers on Monday, saying that the court’s concerns about Khan’s living conditions in jail had been addressed.

“As evident from the above, the petitioner has generally expressed satisfaction with the prevailing conditions of his confinement and has not raised any concerns necessitating accommodations beyond the existing level of care,” a copy of the order seen by Arab News reads.

It added that both the reports by the Supreme Court’s appointed lawyer and the government’s team corroborated this fact, which was reinforced by assurances provided by the attorney general of Pakistan.

Opposition members have gathered outside the parliament building in Islamabad and staged a sit-in protest since Friday over health concerns regarding Khan. Reports of Khan’s eye ailment have also triggered road closures in several parts of KP.

PTI Peshawar President Saleem Irfan said major roads remained blocked on Monday, including the Peshawar–Islamabad Motorway at Swabi’s Anbar Interchange, Khairabad Bridge linking Punjab with the northwestern province, the Dera Ismail Khan–Bhakkar Road, Lakki Marwat–Mianwali Road, the Hazara Motorway at the Abbottabad–Havelian Interchange, Kohat–Pindi Road near Khushal Garh, and sections of the Karakoram Highway in Upper Kohistan.  

“We will continue to block these points until our demand is accepted,” he said.