SAF calls for single SAARC currency

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Times of India, Kolkata, India - 7th November 2009

TIMES NEWS NETWORK

Kolkata: Activists of the South Asia Foundation (SAF), who called for the introduction of a common currency on the lines of the European Union's Euro for SAARC countries at the recent SAF-Peace Festival 2009, met Prime Minister Manmohan Singh in the Capital a fortnight ago with their plea.

Madanjeet Singh, founder of SAF and Goodwill Ambassador of UNESCO, said: "The Prime Minister, before leaving for the ASIAN Summit in Thailand, met us and said: “a SAARC common currency would be feasible only after trade and commerce between the SAARC countries is increased by setting up a free trade zone in the region”.

P K Prabhakaran, director, SAF Operations, said: "The Ambassador has proposed the name Sasia (South-Asia) for the common currency like the Euro (Europe). But it is entirely up to the SAARC countries to decide on a name."

Madanjeet Singh, who had earlier met Maldives President Mohamed Nasheed in Malé, told the PM that Maldives was keen on promoting a common currency as Sri Lankan President Mahinda Rajapakse had formally proposed it at the last SAARC summit. President Rajapakse is the present chairman of SAARC.