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Afghanistan Thrifts 8 Billion Afghani in Past Nine Months:Yawari

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(Last Updated On: July 12, 2015)

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Officials in National bureau procurement department have said,” Afghanistan has been capable to thrift 8 Billion AF  since past none months, the following amount of money has come from the reviewing of the contracts of 189 projects across the country.”

The efforts come after that President Ghani has give direction to the following department to launch efforts on transparency, building capacity and communication within the National Bureau procurement office.

Head of the National Bureau procurement department Yama Yawari said,” 189 projects has been confirmed which 8$ billion thrifts has been made,14 contracts were presented to the committee 13 of the contracts has been approved so far.”

They have also added that out of 13 contracts ,11 contracts goes to Ministry of Defense.

The 11 contracts which has been approved for the Ministry of Defense has made 103 million Afghani which is all about the Afghan Air force’s fueling contract head of the National Bureau procurement department Yama Yawari said.

Its said that Afghanistan has been a big market for the different projects both Governmental and private once,but huge corruption has caused the quality of the projects to be low, it didn’t satisfy the Afghan Nation, therefore the National Bureau procurement department has been established to launch more transparency and check the quality of work within the projects across the country.

Reported by FarahNaz Fortan

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Afghani falls to record low amid pressing currency shortage

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(Last Updated On: November 26, 2021)

Economists are warning of an acute currency shortage in Afghanistan and the subsequent economic predicament as the Afghani has plummeted to its record low in trading.

The United Nations Development Programme (UNDP) issued a report earlier this week urging prompt actions to prevent the Afghan banking system from collapsing, which is now “in disarray” featuring inadequate liquidity and decreased deposits.

The largest currency exchange market in Kabul now has been crowded with people and the Afghani has dropped to its all-time low.

Before the Islamic Emirate of Afghanistan (IEA)’s takeover of Kabul in mid-August, one U.S. dollar was equal to about 70 Afghanis. But now the exchange rate hovers around 90 Afghanis to the dollar. The continued depreciation of the Afghan currency sparked fears among residents, with many flocking to the exchange market.

“Unfortunately in these two weeks the Afghan currency has been dropping down against foreign currencies with one dollar costing 95.5 Afghanis last week. Then the Afghanistan Bank released a statement that they will put 10 million U.S. dollars into the market, more than the 2.5 million dollars they actually took out. However, the price [of the U.S. dollar] didn’t go down but unfortunately have increased day by day,” said Zirak, spokesman from the all money dealers of Afghanistan.

Zirak said the country’s currency shortage was fueled by the combination of its assets frozen by the United States, the increasing domestic demand for U.S. dollars, as well as banks’ restrictions on dollar withdrawal.

The UNDP report noticed that non-performing loans in Afghanistan had increased from around 30 percent at the end of 2020 to 57 percent in September this year.

With the current trend and withdrawal restrictions, approximately 40 percent of the country’s deposit base will be lost by the end of 2021, said the report.

The currency shortage also comes along with rising prices. Some residents and businessmen in Kabul said that the prices of major commodities, such as food and fuel, have almost doubled compared with last year.

A Kabul resident is calling for the U.S. to release the frozen assets to save people’s lives.

“The U.S. blocked the money of Afghanistan, leading to the economic downturn. The poverty rate has reached its peak and people will die, so we urge the U.S. to release money of Afghanistan because [if not,] sure the people will die,” said Mustafa Bahram.

 

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Pakistan to allow India transit access to Afghanistan for humanitarian aid

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(Last Updated On: November 23, 2021)

Pakistan Prime Minister Imran Khan on Monday announced that Islamabad will allow the transit of 50,000 tonnes of wheat and winter shelters offered by India to Afghanistan.

This was among announcements by Khan after visiting the newly-established Afghanistan Inter-Ministerial Coordination Cell (AICC), along with Pakistan’s army chief General Qamar Javed Bajwa, Foreign Minister Shah Mehmood Qureshi and NSA Moeed Yousaf, where he chaired its first committee meeting.

Pakistan will also facilitate the return of Afghan patients who had gone to India for medical treatment and are stuck there, he announced, Tribune India reported.

Pakistan will also immediately ship in-kind humanitarian assistance worth Rs 5 billion, including 50,000 tonnes of wheat and winter shelters.

According to the Tribune India, Pakistani authorities have not however said whether Indian trucks will be allowed to travel to Afghanistan or whether they will have to offload the goods at the border and load the aid onto Pakistani or Afghan trucks.

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IEA says 698 tons of dried fruits exported in last two weeks

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(Last Updated On: November 22, 2021)

The Islamic Emirate of Afghanistan (IEA) has announced that 698 metric tons of dried fruit have been exported from Afghanistan in the last two weeks.

Ahmadullah Wasiq, the IEA’s deputy spokesman, tweeted Monday that the dried fruit had been exported to Europe, Asia, the United States and Australia.

According to him, out of a total of 698 metric tons of dried fruit exported to these countries, 585 metric tons were raisins.

The deputy IEA spokesman added that Afghanistan’s exports were now higher than ever. He said this development was an important step for the country’s economic growth.

The United Nations on Monday meanwhile pushed for urgent action to prop up Afghanistan’s banks, warning that a spike in people unable to repay loans, lower deposits and a cash liquidity crunch could cause the financial system to collapse within months.

In a three-page report on Afghanistan’s banking and financial system seen by Reuters, the U.N. Development Programme (UNDP) said the economic cost of a banking system collapse – and consequent negative social impact – “would be colossal.”

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