ISLAMABAD: President SAARC CCI and Founder Chairman Pak-US Business Council Iftikhar Ali Malik Thursday urged US to unfreeze all foreign reserves of Afghan instantly otherwise economic crisis caused by draining coffers could trigger ever bigger catastrophe in memory.
Talking to a delegation of PTI from Shangla Hill led by Mian Kashif Iqbal Arain Political Secretary to Governor Punjab, Malik said Pakistan’s principled position on the frozen Afghan foreign bank reserves remains that these are owned by the Afghan nation and these should be released.
The utilisation of Afghan funds should be the sole sovereign decision of Afghanistan, he said adding that Pakistan has been advocating for the release of Afghanistan’s frozen money all along so that the economic crisis facing the war torn country could be addressed on top priority.
He said humanitarian catastrophe in Afghanistan and its economic crisis were inextricably linked urged the international community especially western countries and US to play constructive role in alleviating the sufferings of innocent Afghans.
He said actually frozen reserves are not meant for humanitarian aid but to back up the country’s currency, help in monetary policy and manage the country’s balance of payment.
Mian Kashif Iqbal said all reserves held overseas were meant to facilitate international trade and stabilise financial sectors.
He said the people of Afghanistan are sole proprietor of these foreign reserves and US decision is one sided and doesn’t match with international law.
He said even Human Rights Watch’s John Sifton categorically cautioned “directing $3.5 billion to humanitarian assistance for Afghan may sound generous but it should be remembered that the entire $7 billion already belonged to the Afghan people”.
Kashif Iqbal said that it’s high time to provide solace to grief stricken Afghans without loss of time otherwise history will take its course.