Page 4 - Environmental News letter
P. 4

April,2020                                    www.geolinks.com


         PM establishes virus                 Pakistan,         China        and      Russia
         relief fund                          decide to conduct trade in local
                                              currencies skip dollars


















      Prime Minister Imran Khan on
      Monday announced the creation of a
      relief  fund where people could
      donate money without declaring
      their source of income, and the
      formation of ‘Tiger Force’ to provide     A road map will be finalized and signed at
      food to the downtrodden people if a       SCO's    Finance    Ministers'    meeting    in
      total lockdown was imposed in the         Moscow on March 18th.
      country.                                  Representatives from the finance ministries
                                                and central banks of China, India, Russia,
      In a televised address to the nation,     Pakistan, Kyrgyzstan, Russia, Tajikistan
      the prime minister assured the            and   Uzbekistan     will  attend    the  SCO
      nation that with “faith, youth and        conference in Moscow.
      wisdom”     Pakistan   could  defeat
      coronavirus. He warned that those,        The eight-member countries of the Shanghai Cooperation
                                                Organization (SCO), including China, Russia, and
      who did not adopt social distancing       Pakistan, have made the principle decision to conduct
      could jeopardise the lives of others.     bilateral trade and investment and issue bonds in local
                                                and national currencies instead of US dollars.
      “Today    I  am    announcing    the      As per details, a road map will be finalized and signed at
      Coronavirus Relief Fund,” Imran           SCO's Finance Ministers' meeting in Moscow on March
      said in his address. “No questions        18th.
      will be asked from anyone who             Russia, as chairman of the Shanghai Cooperation
      deposits money in the account that        Organization, has called for suggestions from all member
      will be opened from April 1 at the        states for trade and investment in local currencies. After
      National Bank of Pakistan,” he            a detailed review of these proposals in Moscow's meeting,
      added.                       Issue:03     a system of mutual settlement of national currencies will
                                                be introduced for the member countries of the SCO.
                                                                                         Issue:04
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