22 June 2018

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Economic

Monday, April 16, 2018

Kabul (BNA) Chaired by President Mohammad Ashraf Ghani, the high economic council’s meeting was held yesterday and investment on Nestli Swiss and Habib Gulzar, draft law on railway and report of Afghanistan delegation to Uzbekistan were discussed.
In the session, first the issue of investment of Habib Gulzar was discussed. In report of the respective company, it has been clarified that the company had reached an agreement with Nestli Swiss Co in 2015 that $60 million would be invested for Nestli products in the country in coming five years.
Meanwhile, it has been added that in 2017 the company’s first project worth $30 million was started, but in last December some reports were released that Nestli products were poisonous, which put serious negative impacts on popularity of the company.
Officials of the company are asking the government to take legal action against those individuals who have published rumors and restore the prestige of the company.
The session decided that the issue should be seriously reviewed and the company’s prestige should be restored.
President Mohammad Ashraf Ghani said that the government was fully supporting and strengthening the private sectors’ investment in all sections.
Meanwhile, it was decided that there should be a clear mechanism so individuals, institutions and groups should not decide without any judgment and each decision should be executed in accordance to the law.
In second part of the meeting’s agenda, it is decided that draft law on Afghanistan railway delivered to the session by Railway Authority should finalize and refer to cabinet meeting.
Also, report of Afghanistan delegation’s visit to Uzbekistan was delivered and said that the Afghan delegation’s visit to Uzbekistan discussed various issues such as Mazar-Herat railway project, energy and the country’s electricity transit to South Asia, absorption of investment in textile and purchasing of government’s wholesale staples from Uzbekistan as well as cultural cooperation and custom affairs.
 

Saturday, April 14, 2018

Kabul (BNA) Based on Khan Mohammad Baz’ head of currency exchangers in Kabul, Shahzada market report the exchange rate of Afghani as a follow:
                                                                                   
One Dollar                                               69//70 Afs                           
One Pound Sterling                                 98/60    Afs                                                 
One Euro                                                86       Afs                                             
One Emirate’s Dirham                           19   Afs                           
One Thousand Pakistani Rupees              597 Afs                           
One Thousand Indian Rupees                1065 Afs                                         
One Thousand Iranian Rupees              13/50 Afs                           
Yarzada
 

Saturday, April 14, 2018

Kabul (BNA) The Asia Annual Competitive report said that it was decided at China’s BFA meeting for Asia to expand China-Pakistan economic corridor to Afghanistan.
The Ministry of Commerce and Industries says that we will support any project that is in the interest of public, in particular the large-scale regional CPEC project that Afghanistan would include.
Musafer Qoqandi, spokesman for Ministry of Commerce and Industries told media that the CPEC project is connecting the region and will support as it connects the region and it is in the interest of Afghanistan.
Our interest is to connect in the region, and we are confident that any project that is in the interest of Afghanistan we welcome it, because we are a landlocked country, Qoqandi added.
The inclusion of Afghanistan in this project is in the interest of the regional countries as well and by considering geographical importance of Afghanistan, they want this country to be part of the project, Qoqandi stated.
According to Qogoodi, many meetings have been held on protecting the interests of Afghanistan in CPEC project and still discussions are going on.
The plan was launched first in December last year by China’s Foreign Minister, Mr. Wang, at a meeting with Afghan and Pakistani officials.
The China-Pakistan economic corridor is a plan to connect China with Asia, Europe, the Middle East, and Africa, and become a widespread logistics and transportation network that has great importance to China.
The plan was due to expand the project between China and Pakistan, and that’s why the work is seriously continuing in Pakistan.
But the question is this that why is China interested in Afghanistan and what it has earned from this country?
Shir Ali Tazri, an economic expert in this connection told The Kabul Times reporter that the economic meetings which held under various names can be effective in boosting the Afghan economy. Afghanistan has very long borders with Pakistan and China, and any transaction which took place from this route in the region is in the interest of the people of Afghanistan, and the Afghan government should not lose such good business opportunities in this juncture of time, because our people need more good relations in the region.
Meanwhile, Taj Mohammad Talash economic analyst in this regard said that in fact, China and Pakistan are strategic partners, and because Afghanistan has its own importance as a crossroad, it makes the destination long, CPEC is an important transit route and Chinese company will come to Afghanistan and invest in this country.
At the same time, the Chamber of Commerce and Industries says Afghanistan, China and Pakistan are the countries that have deep trade ties among each other.
Shukria-Kohistani
 

Saturday, April 14, 2018

Kabul (BNA)  President Mohammad Ashraf Ghani said the country’s eight zones would be provided with standardized terminals and assured that the new law on transportation services had been provide with basic changes, a statement from the Presidential Office said Friday.
Chairing the meeting to discuss transport problems, the president said that the government was making effort to provide investment and the transportation partnership opportunities for the highways and city transportation.
He said the transportation companies should consider required standards and the government would prevent any corruption in the electronic transit system, according to the statement.
The president, according to the statement, instructed the land administration to specify land for the capital and eight zones of the country to provide facilities for the citizens and the transportation companies.
President Ghani also directed the ministry of transportation to set a deadline for the whole transportation companies, in consultation with those companies and the presidential advisor on the banking affairs, the statement quoted.
The president reiterated that the people should be satisfied with the transportation companies’ services and any reckless change in the related law was a crime.
 

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