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Private Banks Owe $50M Deposits of Projects: MoEW

(Last Updated On: January 28, 2017)

9Officials at Ministry of Energy and Water have said some private banks owe $ 50 million and not willing the pay the amount which was deposited by the private construction companies for launching the projects in Afghanistan.

The officials also said the some of the private construction companies have failed to complete the construction of the projects given, insisting that the banks should return the money for the Ministry of Energy and Water.

Deputy Minister of Energy and Water Abdul Baseer Azimi said, “ We have provide money based on the domestic banks guarantees and assurance, but the construction companies have failed to accomplished the projects given to, now the banks should return the Nation money.”

Economy experts said no Banks can halt the Nation money including the private Banks.

Economy expert Taj Mohammad Talash said, “The Banks who did guarantee should pay back the Nation money, Da Afghanistan and Attorney General Office should pursue the issue, in order to avoid such kind of issues in the future.”

Officials at Ministry of Energy and Water have also mentioned that the private Banks do not only owe money but also they created several issues for the Ministry programs.

Efforts made to get hold of the Attorney General Office and Da Afghanistan Bank officials but none respondent to our calls.

Reported by: Aslam Hejaab

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