SAARC Chamber Calls on US to Unfreeze Afghan Foreign Exchange Reserves – Latest News – The Nation


ISLAMABAD – SAARC Chamber of Commerce and Industry President Iftikhar Ali Malik on Sunday urged the United States to instantly unfreeze all foreign exchange reserves of Afghanistan, failing which the economic crisis caused by the depletion of the coffers could trigger an even greater disaster in memory in the war-ravaged country. Addressing a delegation of traders from Mardan Shabbir Ahmad, he said: “Pakistan’s principled position on the frozen reserves of Afghan foreign banks remains that these belong to the Afghan nation and should be released. ” “The use of Afghan funds should be Afghanistan’s sole sovereign decision,” he added. He said Pakistan has been advocating from the beginning for the release of frozen money from Afghanistan so that the economic crisis facing the war-torn country can be resolved as a matter of priority. He said Afghanistan’s humanitarian catastrophe and its economic crisis were inextricably linked. Iftikhar Ali Malik again urged the international community, especially Western countries and the United States, to play a constructive role in alleviating the suffering of innocent Afghans and stressed that “time is the essence”. He said: “In fact, the frozen reserves are not intended for humanitarian aid but to support the currency of the country, to help with monetary policy and to manage the balance of payments of the country; even the Taliban and their opponents have come together to criticize Biden’s decision as unfair and unfair. He said: “No other country can make such decisions to arbitrarily confiscate another country’s reserves.” The head of the delegation, Shabbir Ahmad, said that all reserves held abroad were intended to facilitate international trade and stabilize financial sectors. “The Afghan people are the sole owners of these foreign reserves and the American decision is unilateral and does not correspond to international law,” he argued. He said that even John Sifton of Human Rights Watch emphatically warned that “spending $3.5 billion on humanitarian aid for Afghans may seem generous, but remember that all $7 billion belonged already to the Afghan people”. In conclusion, he said that no power in the world except Allah can undo the law of nature and added that it is high time to comfort the afflicted Afghans without wasting time, otherwise history would take its course. .

He thanked Iftikhar Ali Malik, a prominent 80-year-old business leader from South Asia, for devoting time to holding a brainstorming and brainstorming session for the orientation of traders.


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