Deputy Prime Minister and Foreign Minister Ishaq Dar urged Shanghai Cooperation Organisation (SCO) members on Tuesday to promote national currencies for mutual settlements. Addressing the SCO Council of Heads of Government meeting in Dushanbe, Tajikistan, he called for financial mechanisms to help the region withstand global economic shocks. The Ishaq Dar SCO meeting remarks focused on strengthening financial cooperation, regional trade and economic stability.
Dar stressed the need to accelerate efforts to use national currencies in transactions between member states. He also called for the establishment of an SCO Development Bank and development and investment funds. According to Dar, these financial mechanisms could support regional development projects and help member countries manage external economic pressures.
The foreign minister highlighted the China-Pakistan Economic Corridor (CPEC) as an opportunity for SCO members to expand economic cooperation. He said participating countries could benefit from greater integration through trade, investment and connectivity. Dar also emphasised the importance of investing in energy and transport infrastructure to improve regional links and facilitate economic activity.
Dar recalled the SCO’s role in promoting cooperation over the past 25 years. He said the organisation had expanded its focus to include trade, infrastructure, culture and innovation while maintaining principles of mutual trust and respect for diversity. He also highlighted Pakistan’s participation in the SCO Regional Anti-Terrorist Structure and its Working Group on Poverty Alleviation.
The deputy prime minister said Pakistan wanted to highlight the contribution of small and medium-sized enterprises to poverty reduction. He also encouraged investment in agriculture, mining, minerals and information technology. Dar identified artificial intelligence, digital transformation, innovation, energy cooperation and international information security as potential pillars of future collaboration among SCO members.
He further recalled the priorities outlined by Prime Minister Shehbaz Sharif for the SCO Council of Heads of State summit scheduled to take place in Islamabad in 2027. These include peace and security, regional connectivity, trade, artificial intelligence, climate resilience, sustainable energy and people-to-people exchanges. Dar said investment in transport and energy infrastructure was essential for deeper regional economic integration.
During the visit, Dar met Tajik President Emomali Rahmon and Prime Minister Qohir Rasulzoda, alongside other delegates. He also held meetings with Chinese Premier Li Qiang and Mongolia’s First Deputy Prime Minister Jadambyn Enkhbayar. Pakistan assumed the SCO chairmanship in September and is scheduled to host the heads of state summit in 2027, building on its previous hosting of the Council of Heads of Government meeting in October 2024.
