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Ring Road Connects Faryab-Badghiz-Herat Failed to be asphalted

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(Last Updated On: October 25, 2022)

PicThe High way ring road which connects Faryab, Baghiz to Herat Provinces has already lost $ 200 million directly and indirectly.

Acting Minister of Finance said,” the following loss has been made due to poor management, in Ministry of public works.”

However the former Minister of public works Najeebullah Ozhan believed that the contract for the following project doesn’t meet our standards and the construction company who has been ready to accomplish the ring road construction was a thief.

Still the acting Minister of the public works has refused the following claims made.

The ring road from Qaisair district of Faryab all the way to Laman area of Herat Province lengths 233 kilo meter with the cost of $397 million supported by the Asian Development Bank its contract has been signed with joint US-Turkey construction companies (EMJV) and the project was supposed to be accomplished within 4 years by now.

This ring road is counted as one of the high way roads in Afghanistan which connects three provinces Faryab- Badghiz to Heart.

Former Minister of Public works Najeebullah Ozhan said,” the (EMJV) construction company after about one year has left the construction of the road and escaped from Afghanistan, the following company has received $107 million in advance which cashed out $12 million from its Bank account and left the country.

EMJV Company has had second hand construction companies do the rest 10% of its responsibility with the less amount of money.

Officials in Ministry of finance claimed that we have reminded the officials in Ministry of public works for such huge loss of $200 million coming from the construction phase of the ring road.

Former Minister of Public Works has rejected the claimed said,”the following construction company has come to Afghanistan to loot money related to the case the officials in Asian Development bank are involved in taking bribes.

Among those robbers, the third company named Oil International who had the responsibility of monitoring has received $30 million and deputy protection of public has gained $50million, and the second hand construction companies has spent $25 on the road construction and yet they receive their money.

Head of the road construction company Shawali said,” we have told to the deputy of the Ministry of Public works NoorGul Mangal that the EMJV responsible willing to flee from the country, he didn’t listen to our voice.”

 Acting Minister of Public works Mangal though doesn’t provide clear reasons why the company left the country still speaks out about the challenges which the construction company used to tackle with, the main reason to leave the country has not been clear whether they have been frightened to death or.”

 There are some documents existed that the EMJV owed several Afghan construction companies for their construction work, even this issue has been taken to the court once in awhile .

Based on the court documents the officials for the construction company (EMJV) were not permitted to leave Afghanistan but due to some mediators from Afghan Government they flee from the country.

 Former Minister of Public Work Najeebullah Ozhan has said,” I have asked the EMJV and Asian development Bank Officials for the termination of the contract.

Officials in Ministry of Finance rejected his claim saying the EMJV has asked for termination of the contract because Ministry of public works doesn’t follow the condition of the contract.

This comes after that Afghanistan has been awarded as the fourth corrupted countries in the world.

 

 

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Ministry of commerce allocates land for oil refineries

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(Last Updated On: March 14, 2024)

Acting Minister of Industry and Commerce Nooruddin Azizi, said in a meeting with oil refinery officials that as soon as they are ready to invest, the ministry will establish an oil and gas industrial park.

In this meeting, refinery officials discussed problems regarding the Qashqari oil field and agreed that land should be provided. They said oil extracted from Qashqari needed to be refined through the standard process.

Azizi, while announcing the cooperation and support of the Islamic Emirate and especially the Ministry of Commerce and Industry for the private sector of the country, said: “A joint proposal should be arranged and submitted to this ministry for the land of the refineries, and also if the officials of the refineries are ready to invest in the area of Dara-e-Hairatan, an oil and gas industrial park will be created and the land will be placed under their control.”

Azizi emphasized the need to increase the capacity of existing refineries and the quality of oil, shared the decision of the High Economic Commission regarding the establishment of a large refinery.

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Pakistan’s Federal Secretary of Commerce invited to visit Kabul

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(Last Updated On: March 11, 2024)

Acting Minister of Industry and Commerce, Nooruddin Azizi, has invited Pakistan’s Federal Secretary of Commerce Mohammad Khurram Agha to visit Kabul.

In a virtual meeting, the two sides discussed the progress made in the last two and a half years in the country, the increase in trade between the two countries, solving problems and removing trade and transit barriers.

They also discussed the need for more facilities, establishing close relations between the governments and private sectors of the two countries and boosting regional cooperation, the Ministry of Industry and Commerce said in a statement Monday.

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Headline inflation in Afghanistan down to -10.2% in January: World Bank

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(Last Updated On: March 11, 2024)

In January 2024, headline inflation experienced a significant downturn, reaching -10.2 percent on a year-on-year basis, the World Bank said in a report.

This substantial drop was largely due to a sharp decline in prices across both food and non-food categories, the report said.

Moreover, core inflation, which strips out the typically volatile food and energy sectors, also fell into negative territory, posting a rate of -6.5 percent on year-on-year basis.

“This ongoing core deflation reflects a troubling inability of both private and public sectors to stimulate sufficient demand. While this period of falling prices may offer temporary financial relief to the most vulnerable households by reducing the cost of living, it can also harm the broader macroeconomy,” the World Bank said.

According to the bank, Afghanistan’s exports contracted by 5 percent on year-on-year basis to $140.5 million in January 2024, down from $148.1 million the previous January.

Food exports to India jumped by 22 percent, compared to an 18 percent decline in Pakistan. Pakistan and India continued to be the top export destinations, claiming 45 percent and 34 percent of the total exports in January 2024, respectively.

The 2023 growth trend in imports extended into January 2024, hitting $830 million, up 37 percent from $600 million in January 2023.

According to the report, in 2023, the afghani (AFN) saw a significant 27 percent appreciation against the US dollar, buoyed by the influx of around $1.8 billion in UN cash shipments and an estimated $2 billion in remittances.

Revenues have been below the Islamic Emirate of Afghanistan’s (IEA) target during the first eleven months of FY2024, with border taxes underperforming despite a surge in imports.

Over the eleven-month span of FY2024, from March 22, 2023, to February 21, 2024, Afghanistan’s revenue collection reached AFN 189 billion, narrowly missing the target by 2 percent but marking a 5.6 percent increase from the previous fiscal year, the report said.

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