Business
Construction companies call for govt, foreign community to pay their debts
Afghanistan’s Construction Union has called on the Islamic Emirate of Afghanistan (IEA) and the international community to pay the money owed to them for projects already worked on.
Union officials called a press conference in Kabul on Tuesday to address the issue of non-payment and said that about 2,000 construction companies are owed money for projects carried out for the former government and the international community.
“We don’t have money. People want money from us, because of this [problem] four companies have closed; our sector is facing severe financial pressure,” said Mohammad Nasir Mohtasibzada, the head of the union.
Some members of the union meanwhile called on the IEA to clarify the fate of hundreds of incomplete projects.
They also called for the release of Afghanistan’s frozen assets, which amount to over $9 billion.
“We urge the international community to release the frozen money, in order to put an end to the current economic crisis,” Shams Ur Rehman, a member of the union said.
Ministry of Finance officials meanwhile said that efforts are underway to resolve the problems faced by construction companies.
“We are committed to helping construction companies financially; one we have established a commission to investigate this, second to give money to the private sector,” said Ahmad Wali Haqmal, spokesman for the Ministry of Finance.
Economic analysts say that the Ministry of Finance and international donors should resolve the problems within the private sector, adding that if this is not done, construction companies will be forced to close and an economic collapse will occur.
“The Islamic Emirate should work to prevent the collapse of the private sector,” said Abdul Bashir Sharifi, one economic analyst.
According to analysts, the IEA should also start working closely with the private sector, and monitor the implementation of big projects.
Business
Acting commerce minister meets Russian deputy PM
Nooruddin Azizi, Acting Minister of Industry and Commerce, met with Russia’s Deputy Prime Minister Alexei Overchuk to discuss trade and investment, it was announced on Friday.
Sergey Pavlov, General Director of Russian Railways, and Dmitry Zverev, Deputy Minister of Transport of Russia, were also present in the meeting, the Ministry of Industry and Commerce said in a statement.
According to the statement, the two sides discussed increasing the volume of trade, preferential tariff for Afghan goods, Russian investment in mines and water dams in Afghanistan, and Afghanistan’s role in the International North–South Transport Corridor.
They also discussed about reducing the cost of transportation through the Russian railway, removing the export tax on basic materials, arranging the trip of the delegation to the ports of Astrakhan and Makhachkala, and holding a trade connectivity conference and an expo of Afghan products in Moscow.
Azizi met with the Russian deputy PM on the sidelines of the Kazan Forum – the 15th International Economic Forum of Russia and the Islamic World.
He also met with representatives of a number of Tatarstan and Russia companies and encouraged them to invest in Afghanistan.
Business
Azizi meets with head of Tatarstan on sidelines of Kazan Forum
The Ministry of Commerce and Industry said Thursday acting minister Nooruddin Azizi met with the leader of Russia’s autonomous republic of Tatarstan, Rustam Nurgaliyevich Minnikhanov, on the sidelines of a meeting in Kazan.
According to the ministry, Azizi met with Minnikhanov on the sidelines of the Kazan Forum – the 15th International Economic Forum of Russia and the Islamic World.
The two officials discussed bilateral trade relations, the establishment of the Russian Trade House in Afghanistan, the visit of Minnikhanov to Kabul, investment in electricity production, water transfer, mining, cultural and economic cooperation and other matters.
This annual meeting is held by Russia and the 14th round of this meeting was also held in the same country last year.
The main goal of the forum is to strengthen trade and economic, scientific and technical, social and cultural ties between Russian regions and the countries of Organisation of Islamic Cooperation (OIC), as well as to promote the development of the Islamic financial system institutions in Russia.
Business
Afghanistan’s imports and exports totaled $10.3 billion last year
The National Statistics and Information Authority (NSIA) said on Wednesday that last year, the value of exports totaled $1.79 billion while imports totaled $8.57 billion.
According to NSIA, fruits accounted for the largest share of export items last year, totaling over $645 million.
Medicinal plants, minerals and vegetables were the next top three items respectively to be exported.
Meanwhile, petroleum and oil accounted for the largest portion of imported goods, totaling over $1.37 billion.
Another large portion of the total amount imported went to machinery, vehicles and parts. This totaled over $1.15 billion, followed by textiles, metals and metal products.
-
Climate Change4 days ago
Summer 2023 was the hottest in 2,000 years, study says
-
Latest News5 days ago
Nakamura canal project completed in Nangarhar
-
Sport4 days ago
Stubbs gives Delhi IPL play-off hope with win in last league match
-
Business4 days ago
Afghanistan’s imports and exports totaled $10.3 billion last year
-
World4 days ago
Manhunt underway after gunmen ambush French prison van to free drug dealer
-
Latest News5 days ago
Acting health minister visits flood-stricken villages in Baghlan
-
Regional4 days ago
World Court to hold hearings over Israel’s Rafah attacks
-
Sport5 days ago
Six KPL cricket teams snap up 15 players each in this year’s draft