Barter trade digital system developed

It will bring transparency as banking linkages remain limited

LAHORE:

Amid persistent challenges in operationalising barter trade agreements with countries such as Russia, Iran and Afghanistan, a Karachi-based technology company has introduced a digital framework aimed at overhauling Pakistan's barter trade mechanism.

Galaxefi Solutions, a private tech firm specialising in digital freight workflows, has developed a national-level system called Bartmas (Barter Trade Management System). The initiative seeks to bring transparency, efficiency and coordination to barter-based transactions, a necessity for Pakistan given its limited banking relations with several trading partners due to sanctions and geopolitical constraints.

Galaxefi Founder and CEO Asif Pervez said the system is designed to move the country away from outdated manual processes that have made barter trade vulnerable to inefficiencies, mismanagement and policy blind spots. "Barter trade doesn't have to be broken. We just have to stop guessing and start measuring, digitally, transparently and in real time," he said.

Bartmas aims to integrate all key national institutions through digital APIs, including the Pakistan Single Window (PSW), Federal Board of Revenue, Ministry of Commerce, National Logistics Corporation (NLC), State Bank of Pakistan (SBP) and other authorities. The proposed digital infrastructure will enable end-to-end visibility of barter journey from the initiation of barter request and customs clearance to escrow fund management and bonded warehousing, ensuring that each step is auditable and centrally traceable.

According to Pervez, the process begins with barter requests initiated through a secure online dashboard, followed by real-time inventory checks to prevent domestic shortages. Contracts would be verified in coordination with regional chambers of commerce, such as the Quetta and Zahidan Chambers.