16 October 2018

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Economic

Tuesday August 7, 2018

Kabul (BNA) Ministry of Energy and Water signed the contracts of 7 welfare projects at the cost of 226 million Afghanis the other day.
According to BNA report, Eng. Mohammad Gul Khulmi deputy and acting minister of ministry of energy and water, while signing the contracts said, 3 projects at the cost of 157 million Afghanis funded by World Bank will be implemented in Balkh, Kandahar and Paktia provinces and 4 other projects at the sum of 69 million Afghanis funded by government of Afghanistan.
By implementation of the projects 100,000 acres of lands will be irrigated and work opportunities to be provided for hundreds families, Khulmi added.
M.A.Ansari
 

Monday August 6, 2018

Kabul (BNA) Memorandum of Understanding (MoU) has been signed to ease trade between Afghanistan and Kazakhstan.
Officials for ministry of commerce and industries have reported that an agreement was signed the other day for creating transit facilities between Afghanistan and Kazakhstan. Currently, trade between the two countries reaches to nearly $600 million. Kazakh officials say investors from Kazakhstan have visited Afghanistan and are eager to invest in the country. Ministry of commerce and industries says the respective pre-condition document will be for expansion of trade and transit relations between Afghanistan and Pakistan. Meanwhile, a number of traders and owners of industries are stressing on further expansion of trade relations and investment with Kazakhstan. Yasin, who is owner of food and logistics companies in Kabul, told that most of imported stuffs were from Kazakhstan and Afghans were also good purchasers of these stuffs. He asked Afghanistan government in particular ministry of commerce and industries to further expand its trade relations with Kazakhstan and ease trade for Afghan traders so that they could expand their trade relations with other countries of Central Asia. It is said that World Trade Organization (WTO) with close cooperation of EU will ease trade and transit between Afghanistan and Kazakhstan. It is determined that a joint meeting of traders and representatives of Afghanistan and Kazakhstan will be soon held in Astana, capital city of Kazakhstan.
Over 30 representatives of government and the private sector attended the meeting in Kazakhstan on Saturday. At this meeting, officials from the Ministry for Investment and Development of Kazakhstan said Kazakh investors are keen to invest in Afghanistan. Zakia, representative of Afghanistan Women Chambers of Commerce and Industries, hopes that the meeting will resolve most of problems of Afghan traders. Head of Afghanistan Chambers of Commerce and Industries Rahimullah Samandar says Kazakhstan is a country which we have lots of trade with it and we are trying to provide some trade facilities between the two countries.
Addressing of visa problems between the two countries, solving problem in customhouses bordering the two countries and preparing the ground for using Trade International Road (TIR), expansion of railway and other relevant issues will be discussed between officials of the two countries in the joint meeting to be soon held in Kazakhstan. It is worth mentioning that Kazakhstan is one of the region’s largest exporters of wheat and wheat flour and holds grain reserves that are of major strategic importance for the continent. While Afghanistan has trade relation with Kazakhstan in the past, this is the first time the high-level discussions are taking place between Afghan and Kazakh officials regarding providing trade facilities between the two countries.
Shukria Kohistani
 

Sunday, August 05, 2018

Kabul (BNA) Based on Union of money exchangers in Sari Shahzada, Kabul city, the exchange rate of Afghani as a follow:
                                                                           
One Dollar                                                              72/25       Afs
One Pound Sterling                                            93/30       Afs
One Euro                                                            83/35      Afs
One Emirate’s Dirham                                       19/70       Afs
One Thousand Pakistani Rupees                           591       Afs
One Thousand Indian Rupees                              1060       Afs
One Thousand Iranian Rupees                            07/20       Afs
 

Sunday August 5, 2018 Kabul (BNA) The incoming government of Pakistan led by Tehreek-e-Insaf (TI) will kick off construction work on the $10 billion Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project, in a bid to cope with the daunting challenge of energy shortage. Former prime minister of Pakistan Shahid Khaqan Abbasi had participated in the groundbreaking ceremonies held to begin construction of the pipeline in Turkmenistan and Afghanistan. The 1,800 kilometers Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline will feed three energy starved Afghanistan, Pakistan and India for 30 years. Officials say the pipeline will supply up to 33 billion cubic meters (bcm) of natural gas a year from Turkmenistan to Afghanistan, Pakistan and India for three decades. Pakistan and India will receive 42 percent share each, with 12 percent going to Afghanistan. In Pakistan, the work was scheduled to commence in May this year, but the plan could not be pushed ahead as tenure of the Pakistan Muslim League-Nawaz (PML-N) government was going to end on May 31, 2018 according to Pakistan’s Express Tribune. “Now, the new elected administration of PTI will start laying the TAPI gas pipeline in Pakistan” a senior Pakistani government official told the paper. Pakistani’s State-run Inter State Gas Systems (ISGS) Managing Director MobinSaulat told the Express Tribuen that the pipeline construction had begun in Afghanistan and Turkmenistan. However, work had not yet been undertaken in Pakistan, he said, voicing hope that the incoming government would inaugurate the building of the gas pipeline. The project was targeted to be completed in 2021, but under the alternative plan, the participating countries would be able to complete it in 2020. The TAPI steering committee comprising ministers of the four countries has approved the alternative plan. Turkmenistan has huge gas reserves and a major chunk of them has gone to Russia that supplies the energy onwards to Europe. Turkmenistan has also been supplying gas to Iran whereas Afghanistan, Pakistan and India will be its new markets. Turkmenistan will bear 85% of the $10 billion pipeline cost while Afghanistan, Pakistan and India will have 5% equity share each. The pipeline cost is in addition to the $15 billion capital injection required for developing a relevant gas field.
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