Dar urges SCO countries to expand local currency trade settlements

According to Profit by Pakistan Today, Deputy Prime Minister and Foreign Minister Ishaq Dar used a Tuesday address in Dushanbe, Tajikistan, to press Shanghai Cooperation Organisation members to speed up trade payments in local currencies. He also wants regional lenders created so members can limit their vulnerability to outside financial jolts. Dar further pressed for faster progress toward creating the SCO's development bank, development fund and investment fund.

He proposed strengthening the SCO Interbank Consortium to ease cross-border payments, plus trade finance and infrastructure funding, noting that Habib Bank Limited currently chairs the body. Dar also wants greater capital directed toward energy, transport, farming, mining and information technology, and invited members to join China-Pakistan Economic Corridor projects. He further asked for customs procedures to be streamlined, stronger business-to-business ties and more trade exhibitions to help small and medium enterprises.

Separately, Dar held talks with Tajikistan's Foreign Minister Sirojiddin Muhriddin, covering trade expansion, energy cooperation and regional connectivity. Pakistan will host the SCO leaders' summit in Islamabad, slated for August 2027.