Amritsar, Oct 18 (IANS) Activists of the South Asian Foundation (SAF), who have gathered here for an India-Pakistan peace festival, Sunday demanded the introduction of a common currency for the South Asian Association for Regional Cooperation (SAARC) countries on the lines of the European Union’s euro.
SAF member Madanjit Singh told reporters here: “During the worldwide economic meltdown, a common currency saved the European Union from the economic crisis. Similarly a common currency can also benefit SAARC countries. It would also facilitate trade and business transactions between these countries.”

“SAF 2009 was organized with the objective of establishing a union of the eight SAARC countries and to bring them more closer to each other,” said Singh, who also serves as a goodwill ambassador for UNESCO.

SAF is a non political and non-profit organisation and the peace festival, which is witnessing the participation of nearly 90 Pakistani artists - painters, theatrepersons and filmmakers, is underway in this border district Oct 14-23.

SAARC comprises eight countries: Afghanistan, Bangladesh, Bhutan, Pakistan, India, the Maldives, Nepal and Sri Lanka.