The sources say that the payment will pave ways for further economic ties between both sides.
ISLAMABAD: (Urdu Point/Pakistan Point News-Feb 26th, 2020) Pakistan has paid an amount of Rs 14.42 billion to Russia for settlement of a trade dispute, the reports claim here on Wednesday.
The government paid this heavy amount to strengthen trade ties with Russia and to pave the ways for further economic relations with it.
“The government has paid $93.5 million against the Russian exporters’ claims pending since the disintegration of the Soviet Union,” said the sources, adding that it would now pave the way for billions of Dollar investments by Russian investors in Pakistan.
The government last year directed an ambassador to sign the deal in Russia. Under that deal, Pakistan government was bound to pay $93.5 million to Russia within 90 days, they added. They also stated that Pakistan was liable to clear pending exporters’ claims to the tune of $23.8 million under the settlement that was made during October 6, 2016 and December 27, 2017.
They also state that Russian government was willing to expand cooperation with Pakistan on different fronts including agriculture, economic and scientific technical cooperation.
Russian Trade Minister Denis Valentinovich Manturov said that Economic and Scientific Technical Cooperation would be strengthen between Pakistan and Russia. He made these comments while taking part in the sixth meeting of Pakistan-Russia Inter-governmental Commission on Trade in Islamabad.
“Russia wants cooperation between both sides in different sectors,” the minister was quoted as saying.
