Connect with us

Business

Contract of Electricity Project Signed with Bayat Power, Worth About $40 Million  

Published

 on

(Last Updated On: April 24, 2018)

The government signed the agreement of an electricity project with Bayat Power Company that worth $38.85 million.

The project is expected to produce up to 42 megawatts of electricity from gas in the northern Jawzjan province as part of the efforts to resolve the electricity shortage in the province.

Signing the contract for the project with Bayat Power Company, the Minister of Energy and Water Ali Ahmad Osmani said that this power project will make them a step closer to self-sufficiency.

According to the Ministry of Energy and Water, the project will be implemented in YatemTaq village of Jawzjan that will provide electricity to 30,000 families and 100 factories in Jawzjan, Balkh, Samangan, and Faryab provinces.

 “Today we embarked on a special day, it is a start of Afghanistan’s independence in energy,” said Hamidullah Raheen, the Deputy Head of Bayat Power Company. “Today’s implementation agreement being signed will allow Bayat Power to start its 42-megawatt power project in Sheberghan.”

According to Mr. Raheen, one million Afghans and businesses will benefit from this project.

The practical work on the project will begin within next three weeks and will be completed in less than six months.

“This is the first phase of the three-phase power project. The first phase being the 42-megawatt power project and third being up to 200 megawatts,” he said.

Welcoming the launch of the project in Jawzjan, MP Fahima Sadat said that such kind of projects will not only create jobs for the people but it will also increase the government revenues.

Business

Carpet industry takes major knock as client base dries up

Published

on

(Last Updated On: September 25, 2021)

Afghans working in the country’s renowned carpet industry say they fear for their future and that business has taken a hit following the Islamic Emirate of Afghanistan’s (IEA) takeover.

“Carpet weavers should be supported and the carpet weaving industry should grow as well,” said weaver Najaf Ali Mejrayi, while pausing from his work on an intricate rug in the capital, Kabul.

Carpets are one of Afghanistan’s most well-known exports, having been exported around the world for centuries.

Manager of the Sadaat Weaving Company, Mohammad Qasim Ahmady, said his primary market used to be European countries and the U.S., with carpets making their way overseas through Pakistan. But now, he said the customer base has evaporated, while prices for materials such as wool are rising.

He used to have as many as 50 employees before the IEA takeover but now has only about half a dozen.

“This business is down and there is not much production,” he said.

Ghulam Wali Mirzaei, who does dyeing for the carpets, said his family’s wellbeing is at stake.

“If this company falls, all of the employees working here will be unemployed. We take care of our family needs only through this job,” he said.

Continue Reading

Business

Pakistan’s customs agent says exports to Afghanistan dwindle

Published

on

(Last Updated On: September 24, 2021)

Hundreds of trucks lined the winding, mountainous road leading to Torkhum, the Pakistan-Afghan border crossing on Thursday.

Pakistani officials say that is because exports to Afghanistan have dwindled in the days after the Islamic Emirate of Afghanistan (IEA) take over.

But some truck drivers were upbeat because they said the vegetable and fruit season in Afghanistan had helped increase exports of these items from the war-ravaged country.

Another Pakistani official at another Pakistan-Afghan border Chaman said trade had picked up because the IEA government had reduced taxes, and also put an end to bribes that traders and truck drivers had to pay to cross the border.

Afghan new government bolstered its economic team last week, naming a commerce minister and two deputies as the group tries to revive a financial system in shock from the abrupt end to billions of dollars in foreign aid.

Underlining the economic pressures building on Afghanistan’s new government, prices for staples like flour, fuel, and rice have risen and long queues are still forming outside banks as they strictly ration withdrawals.

Continue Reading

Business

Motorists concerned about rising fuel prices in Afghanistan

Published

on

(Last Updated On: September 20, 2021)

Afghans have raised concerns over the increase in fuel prices on the local market, despite the resumption of fuel imports from neighboring countries.

Officials from Balkh’s Chamber of Commerce and Investment said last week that imports of fuel and gas through Hairatan and Aqina ports have resumed.

Motorists have however called on the Islamic Emirate to monitor and control market prices.

According to them, petrol currently costs 65 AFN per liter; diesel is 56 AFN; and gas costs between 72 and 80 AFN per kilogram in Kabul.

The Council of Fuel Merchants, however, says that limited access to cash and banking transactions, along with a monopoly of the industry by a few companies, are the key reasons for rising fuel prices.

Mohammad Asif, a member of the organization, stated: “If the Islamic Emirate wants to control the issue, they should control it at the [border] customs. Although [import] tariffs have been cut by 50%, prices are still high due to a monopoly of imports by some companies. They (merchants) set prices as they wish.”

Khan Jan Alokozay, Deputy Head of the Chamber of Commerce and Investment, stated: “The problem is that wholesalers have not set the market price, and when retailers distribute the goods to other areas that causes an increase in rates.”

People also called on property owners to reduce rental rates of houses in Kabul city, amid a looming economic crisis in Afghanistan.

Landlords, however, stated that the average rental has dropped by 50% compared to last year.

Continue Reading

Trending

Copyright © 2021 Ariana News. All rights reserved!