Business
Budget of 1396 Fiscal Year Finalized: Hakimi
Officials in Ministry of Finance have stated that the budget for the fiscal year of 1396 has been finalized and soon it will be sent to National assembly of Afghanistan for further approval, saying considering the high level of financial aids of the International community given to Afghanistan at Brussels summit no financial issues would occur incoming year.
Meanwhile Minister of Finance expressed his concerns over poor management and not consuming the budget allocated for the year of 1395.
Minister of Finance Iklil Hakimi who was invited by the upper house members to provide more details over receiving the International community financial aids for Afghanistan said,” Draft budget for the 1396 fiscal year has been finalized, and soon it will be sent to Afghanistan National Assembly for further approval, our demand from the International community was to dump all the financial aids to Afghanistan accounts where most of the our desire was granted.”
Minister of Finance Iklil Hakimi has expressed his concerns over the Ministries who failed to consume the budget of 1395, necessary measurements will be adopted about the Ministries.
“Details of not spending the budget for fiscal year of 1395 should be discussed, President with the consultation of the National Assembly of Afghanistan will decide about those Ministers who have failed to consume the allocated budget Minister of Finance told to senators.”
We have few months to end the year of 1395 and begin the fiscal year of 1396 but most of the Ministries have spent their allocated development projects less than 40 percent, this has created a new barrier for reaching the promotion and development in the country.
Reported by Rafi Sediqee
The Ministry of Commerce and Industry said Thursday it has signed cooperation agreements with ten institutions to support the development of small and medium-sized enterprises.
Nooruddin Azizi, Acting Minister of Commerce and Industry, said: “In the implementation of projects, we must pay special attention to our activities and actions and try to make useful use of the projects according to the requirements and benefit the beneficiaries.”
These ten institutions are to present their projects, the total value of which is around over $1.1 million. The projects will be carried out in Kabul, Baghlan, Ghor, Herat, Logar, Nangarhar, Balkh, Badakhshan and Jawzjan provinces and provide direct jobs for about 1,000.
To date, the ministry has signed MoUs for 72 projects in total, collectively valued at about $53.6 million.
These agreements have been signed with domestic and foreign companies for the establishment of small and medium-sized businesses.
In accordance with the principles and laws of the Islamic Emirate and prioritizing the implementation of projects for immigrants and returnees and internally displaced people, the ministry said 635,865 people will benefit through jobs directly and over 4.3 million will benefit indirectly in 25 provinces once these projects are implemented.
The National Statistics and Information Authority (NSIA) confirmed Tuesday that in the last month of solar year 1402, (March 2024) Afghanistan’s exports totaled $141.1 million and imports totaled $789.6 million.
This was down from $174 million for exports in the same period in 1401. However, imports increased by $99.2 million in 1402, up from $690.4 million.
Most exports in the last month of 1402 went to Pakistan, India and the United Arab Emirates, while in the last month of 1401 exports went to Pakistan, India and China.
The Ministry of Interior said the governor of Herat province Islam Jar met with Alim Khan Yasin Gildaye, Ambassador of Kazakhstan to Afghanistan, to discuss various issues around trade.
According to the ministry, the two sides discussed the expansion of trade facilities, increasing the volume of trade exchanges between traders of the two countries, reducing customs tariffs, solving the challenges of traders and issuing visas to them.
The Afghanistan-Kazakhstan Chamber of Commerce has been opened in Herat in order to facilitate and increase trade between the two countries.
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