In a bold move aimed at enhancing regional economic cooperation, Prime Minister Shehbaz Sharif proposed the idea of a unified currency for the members of the Shanghai Cooperation Organization (SCO). Speaking at the 23rd SCO Heads of Government meeting, the Prime Minister emphasized that a common currency would simplify economic transactions, paving the way for smoother trade and financial integration among SCO member states.
Unified Currency for Economic Stability
The Prime Minister stressed that the introduction of a common currency, alongside other economic measures, is essential to ensuring long-term peace, stability, and socio-economic development in the region. According to Sharif, such a move would enhance economic cooperation and create a more unified regional market.
Support for Alternative Funding Mechanisms
In addition to advocating for a common currency, Shehbaz Sharif expressed his government’s support for the development of alternative funding mechanisms aimed at promoting sustainable economic growth across the SCO. These initiatives would serve to address development gaps and strengthen the region’s economic resilience.
Reforms and Counter-Terrorism Efforts
The Prime Minister also called for internal reforms within the SCO to better address the region’s development challenges. He reiterated Pakistan’s commitment to establishing a counter-terrorism structure within the organization to ensure the security and stability of its member countries.
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