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Neighboring Countries Trying to Prevent Investment in Afghanistan: MoF

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(Last Updated On: July 10, 2017)

Afghan Ministry of Finance (MoF) says some of the neighboring countries are trying to prevent investment and domestic production in country.

Afghanistan is at risk of unwelcome external influences, its sovereignty and traditions vulnerable.

The finance minister, Eklil Hakemi declared the government committed to provide fields for the growth of economic sector to International Community in Brussels summit.

“Facilities and fields are ready for those Afghans who want to invest in Afghanistan and the government is committed. But some neighboring countries and political challenges caused the slow process and we are trying to solve this problem,” said Eklil Hakemi, finance minister.

UN Secretary-General for Afghanistan, Tadamichi Yamamoto says a big part of Brussels commitment has been fulfilled but the rest of them remain incomplete. The International Community and Afghan government should make further efforts in fighting terrorism based on Brussels commitments.

According to MoF information, big energy projects will be start for attracting investment in the current year and the ministry jointly works with National Council to pass the investment law in public and private sector.

 Afghanistan’s emergence as a regional crossroads for trade and resource sharing in a post-Taliban era remains a distant though hopeful prospect. Endemic economic and physical constraints and retrogressive political developments block progress toward the region forming a vital new economic entity.

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Iran issues permit for transit of diesel to Afghanistan

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(Last Updated On: January 23, 2022)

Iranian government officials have announced that Tehran has issued a three-month permit for the transfer of diesel to Afghanistan, Hassan Kazemi Qomi, Special Representative of the President of Iran for Afghanistan, tweeted on Saturday.

He said the move was made following a request from Islamic Emirate of Afghanistan (IEA) officials in order for them to meet the needs of Afghans for fuel during winter.

“In order to meet the needs of the Afghan people in the winter and according to the request of the Afghan authorities from the Islamic Republic of Iran, a permit for the transit of diesel to Afghanistan from the territory of Iran was issued for three months,” he said.

Last week, a meeting of the IEA cabinet decided that a delegation would consider import options to meet the people’s fuel.

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Central Bank says ATM to get operational in Afghanistan

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(Last Updated On: January 14, 2022)

Da Afghanistan Bank (Central Bank of Afghanistan), said Thursday, said that Automated Teller Machine (ATM) services by commercial banks will be resumed in the country.

In a statement issued on Thursday, Da Afghanistan Bank stated that the decision was made after a series of discussions with commercial banks and the union of banks of the country.

The ATM services of banks were stalled after the Islamic Emirate of Afghanistan (IEA) regained power on August 15 last year.

According to the statement, the ATMs will be available at specific locations for the customers.

“Da Afghanistan Bank is striving to return banking sector to normal and reactivating the ATMs is a good news [for people] and [Da Afghanistan Bank] is trying to bring further facilities to the people.” Reads the statement.

Da Afghanistan Bank, so far, has not disclosed the amount of money people can withdraw from the ATMs.

Currently, people can withdraw up to $400 from dollar-denominated accounts or 30,000 Afghanis a week from the previous limit of $200 or 20,000 Afghanis.

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Afghan carpetmakers raise concerns over shortage of wool due to smuggling

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(Last Updated On: January 14, 2022)

Afghanistan’s National Union of Carpet Manufacturers raised concerns on Thursday around the smuggling of woolen fleece from sheep into other countries, which has led to a shortage of the raw material for Afghan carpet weavers.

Afghan carpet producers said that farmers in Ghazni, Zabul, Farah, Kandahar, and Helmand provinces are harvesting the fleece and then smuggling it into other countries.

According to the union, they have as a result been forced to import Iraqi and Saudi yarn to use in the local carpet industry.

“Our (woollen) fleece is being smuggled to Pakistan and India, but we have to import yarn from Iraq and Saudi Arabia,” said Mohammad Naeemzada, on carpetmaker.

“The price of one square meter of carpet has increased by 600 AFN. Because we import yarn from other countries, due to smuggling of our own fleece,” said Noor Ahmad Noori, the head of the Afghan carpet producers union.

The Ministry of Finance (MoF) meanwhile said that they have also asked all customs offices at border points to clamp down on people exporting the raw material.

The spokesman for the MoF Ahmad Wali Haqmal said: “The Islamic Emirate needs time, the process [to prevent smuggling] needs time. We will solve the problems, and will prevent smuggling.”

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