Pakistan's MoC Lacks Plan for New US Sanctions on Iran, Trade at Risk

The Ministry of Commerce (MoC) is reportedly unprepared for expected new US restrictions on Iran, despite the potential impact on Pakistan’s informal trade, estimated at USD 800 million annually. US Treasury Secretary Scott Bessent's "Economic D-Day" on August 24 envisages prohibitive secondary sanctions on countries trading with Iran, which could disrupt Pakistan's significant unofficial exports of rice and mangoes. While formal trade is negligible, informal channels are crucial for bilateral commerce. Increased economic uncertainty and potential disruption to informal trade could exert pressure on the Pakistani Rupee and boost local gold demand as a safe haven.

بحوالہ / Source: www.brecorder.com