Mining extraction companies owe $ 10 million to Gov’t

(Last Updated On: February 16, 2016 5:02 pm)

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Afghan minister of mines and petroleum says that the mining extraction companies owed nearly $ 10 million unpaid to the Afghan government.

Dawood Shah Sabah, minister of Mine and petroleum  stated that the current situations have created many challenges for the ministry but announced a new scheme for solving the existence problems.

“We face many problems in our country’s mining system. A large number of companies owe the government and there is not a clear law on paying fines and debts,” said Dawood Shah Sabah, minister of mines and petroleum.

Meanwhile, Afghanistan Investment Support Agency (AISA) confirms the current problems in extraction companies.

“A number of companies have not paid their income taxes and I hope these problems to be solved soon,” said Muhammad Qurban Haqjo, chairman of AISA.

The ministry of mines and petroleum noted that the new scheme for solving the problems will be implemented up to the next three years.

But the economic analysts considered three years a long term for implementing a scheme.

This comes as that the minister of mines says Afghanistan cannot attract foreign investments until its laws are not based on international standards.

The only alternative that could ensure Afghanistan’s economic sustainability and financial capacity is to invest on mines extraction and natural resources of the country.

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