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7 % increase in revenue collection projected for new financial year

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(Last Updated On: October 25, 2022)

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With Afghanistan’s national revenue generating lagging, Afghanistan is continuing to rely on foreign donors for the years to come. During last year’s presidential elections, the country astute financial challenge as it had huge budget deficit at a difficult juncture of time.

The ministry of finance (MoF) says to collect 38 billion Afghanis revenue since the beginning of the financial year.

According to officials in the ministry of finance, the figure shows seven percent increase compared to the same period in the last year.

Spokesman of the finance ministry, Abdul Qadir Jilani said that a computerized system of taxation is currently activates to prevent corruption in the customs and traders can pay their taxes through internet.

“The activation of computerized system, hiring professionals staffs are the priorities of the new leadership,” Jilani said.

The aim for the current financial year has been anticipated 120.4 billion Afghanis.

According to officials in the ministry of finance, now foreign investors are eager to invest in mining and construction sectors.

A sharp fall in international funding will create enormous challenges for the government of Afghanistan. This is a real scenario particularly if Afghanistan fails to development viable sources of national income in the coming years.

The economy of Afghanistan has improved significantly since 2002 due to the infusion of billions of dollars in international assistance and investments, as well as remittances from Afghan experts.

Afghanistan’s relation with its major financial allies is key for the future financial and economic stability.

As part of the Kabul-Washington bilateral strategic agreement, the US has committed to continue supporting Afghanistan’s security sector and its development for the next decade.

However, the relations between Kabul and Washington has seen ups and downs during recent years of former president Hamid Karzai’s ruling as he refused to sign a security agreement with the US.

It risked a robust relationship between the two countries which is vital for survival of Afghanistan against the hardheaded insurgency. In addition to seeking investments from regional countries, Afghanistan needs to develop robust relations with its key international backers such as the United States and the European Union.

 

 

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Japan pledges emergency aid to Afghanistan’s flood victims

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(Last Updated On: May 16, 2024)

The Japanese Embassy in Afghanistan announced Thursday it will provide emergency relief to flood-hit people in northern Afghanistan.

According to a statement issued by the embassy, relief will be provided through the Japan International Cooperation Agency (JICA) in cooperation with the International Federation of Red Cross and Red Crescent Societies (IFRC) and Afghan Red Crescent Society (ARCS).

This relief includes tents, blankets and other essential items.

According to the statement, “Japan has decided to provide emergency assistance to Afghanistan to support people affected by the flood. We will always stand by the people of Afghanistan.”

The UN Office for the Coordination of Humanitarian Affairs (OCHA) has meanwhile reported that 8,975 homes were destroyed or damaged by floods in Baghlan, Badakhshan, and Takhar provinces following heavy rains.

Russia also pledged help if needed, while the Organization of Islamic Cooperation (OIC) appealed to Islamic countries and aid organizations to step in to help the flood victims.

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Russia’s special envoy for Afghanistan visits India

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(Last Updated On: May 16, 2024)

Russia’s special envoy for Afghanistan Zamir Kabulov held talks with India’s external affairs minister JP Singh to discuss the situation in the country.

Kabulov met with Singh during a visit to India.

In a post on X, India’s external affairs ministry spokesperson Randhir Jaiswal said: “India and Russia held bilateral consultations on Afghanistan today in New Delhi.

“Amb. Zamir Kabulov, Special Presidential Envoy for Afghanistan, and JP Singh, Joint Secretary (PAI) discussed the current situation in Afghanistan and emphasized on the need to provide development assistance for the welfare of the Afghan people,” he said.

An official at the Russian embassy said Kabulov held talks with Singh under the framework of India-Russia foreign ministerial consultations on Afghanistan.

New Delhi has been pitching for providing unimpeded humanitarian aid to Afghanistan to address the humanitarian crisis in the country.

In June 2022, India re-established its diplomatic presence in Kabul by deploying a technical team in its embassy in the Afghan capital.

The Islamic Emirate says that due to the diplomatic efforts of the IEA, a good spirit of cooperation has been formed in the region towards Afghanistan, and the countries have understood that stable security and stability in Afghanistan is in the interest of all countries.

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China invites IEA deputy PM to Trans-Himalayan Forum

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(Last Updated On: May 16, 2024)

Zhao Xing, the Chinese Ambassador to Kabul, has invited political deputy prime minister Mawlavi Abdul Kabir to participate in the upcoming Trans-Himalayan Forum meeting.

The Chinese envoy said at a meeting Wednesday with Kabir that Beijing supports the Islamic Emirate in terms of attending international meetings, especially UN Security Council meetings.

Zhao also said China was committed to cooperating with the Islamic Emirate.

Kabir in turn expressed his gratitude for China’s support and cooperation across numerous sectors and said that as a responsible government, the Islamic Emirate is bound by commitments made and tries to play an active role in regional issues and the stability and development of the region.

Kabir also acknowledged China’s support of the Islamic Emirate and said Beijing’s cooperation can bring about positive changes and economic growth in the country.

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