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Biden unlikely to release frozen Afghan assets anytime soon

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The Biden administration does not plan to release billions of dollars of Afghan government assets held by the country's central bank anytime soon, the US special envoy for Afghanistan, Tom West said Monday.

Citing concerns the funds could end up in the hands of terrorists after the leader of al-Qaeda was killed while hiding out in Kabul, West said: "We do not see recapitalization of the Afghan central bank as a near-term option.”

He said "the Taliban's (IEA) sheltering of al-Qaeda leader Ayman al-Zawahiri reinforces deep concerns we have regarding diversion of funds to terrorist groups."

CNN reported that a National Security Council spokesperson said "there has been no change" in efforts to get the funds to the Afghan people, but cited Zawahiri's presence in Kabul as having a direct impact on how the administration deals with the Islamic Emirate of Afghanistan (IEA).

"We have been engaged with foreign counterparts in efforts to support the establishment of an international trust fund with robust safeguards to enable the use of Afghan reserves for the benefit of the Afghan people given Afghanistan's ongoing economic and humanitarian crisis," the NSC spokesperson said.

"We have made considerable progress and our focus right now is on supporting the establishment of this fund. The recent revelations of the Taliban's (IEA) flagrant violation of the Doha agreement illustrate the importance of remaining clear-eyed in our dealings with the Taliban. Our approach to the future of these assets will continue to reflect that reality."

This decision not to move on the releasing of the funds anytime soon comes about six months after US President Joe Biden signed an executive order allowing for the $7 billion in frozen assets from Afghanistan's central bank to eventually be distributed inside the country and to potentially fund litigation brought by families of victims of the September 11 terror attacks.

The funds were frozen by the US government after the Afghan government collapsed last year and the IEA took over control of the country.

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Shoemaking industry in Takhar province facing stagnation

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A number of shoemakers in northern Takhar province say that while their handmade shoes are of better quality than imported shoes, but still sales are down.

According to them, there were more than 20 shoe-making shops in the past, but now some have been closed due to the decline in sales.

The shoemakers make most of their shoes from leather. A number of industrialists say that this industry is now facing stagnation.

Abdul Raqib, a shoemaking factor owner, said: “The government should support us. Currently, we import soles. It can be made with good quality in Afghanistan, and we could even compete against Turkish shoes.”

Meraj, another shoemaking factory owner, said: “Shoe sales were higher in the republic era. There were military shoes. Sales have declined now, but we still thank Allah.”

Shoemakers make these shoes with basic tools and by hand, with 5 to 8 people working in each shop.

Javed, a shoemaker, said: “Our sales are not so good. We can make any type of shoe or slipper. We want the government to support us.”

A number of Takhar residents say that domestically produced shoes are of high quality and with lower price compared to imported shoes, so people prefer domestic products to foreign products.

Mir Ata, a resident of Takhar, said: “We are very happy about domestic shoes. People should buy it. They are of good quality.”

However, the officials of Takhar Industry and Commerce Department say that they are committed to support the industrialists.

Abdul Rahman Ghaznawi, provincial director of industry and commerce, said: “People prefer domestic shoes and slippers. Takhar’s products are sold in Kunduz, Baghlan and Badakhshan as well.”

Meanwhile, industrialists say that if the government supports them, they will be able to make the best products and can be more competitive.

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Daily truck clearances at Torkham drop from 400-500 to 5-10

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Pakistan’s Sarhad Chamber of Commerce and Industry (SCCI) has said that daily truck clearances at Torkham crossing have declined from 400-500 to 5-10.

SCCI President Fazal Muqeem Khan said this at the signing ceremony of a memorandum of understanding (MoU) with the Pakistan-Afghanistan Joint Chamber of Commerce and Industry to promote bilateral trade and cooperation.

He said the volume of trade between Pakistan and Afghanistan had fallen from $3 billion to $1 billion annually.

Fazal Muqeem also highlighted the adverse impact of the 2% Infrastructure Development Cess (IDC) imposed by the Khyber-Pakhtunkhwa government on trade and transit.

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Turkish scholars, charity officials assess investment prospects in Afghanistan

Officials pledged to encourage Turkish investors to explore and capitalize on investment opportunities in Afghanistan

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Afghanistan’s Acting Minister of Energy and Water, Mullah Abdul Latif Mansoor, met with a delegation of Turkish scholars and officials from the Adif Charity Foundation on Tuesday to discuss various political, religious, and social issues.

According to the Ministry of Energy and Water, Mullah Mansoor praised Adif’s humanitarian efforts in Afghanistan and highlighted the country’s ample resources for energy production.

He emphasized that Afghanistan currently offers a favorable environment for investment in all sectors, assuring the Turkish delegation of the Islamic Emirate’s commitment to ensuring the safety and security of investors and their assets.

In response, Adif officials pledged to encourage Turkish investors to explore and capitalize on investment opportunities in Afghanistan, signaling a potential boost in economic and developmental cooperation between the two nations.

 

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