Business
9,000 goods containers held up for months by Pakistani officials
As Pakistan’s trade with Afghanistan continues to decline another problem has reared its head – that of about 9,000 containers loaded with goods worth more than $400 million stuck at Pakistani ports.
Bloomberg reported Monday that these containers have been held up for about five months. There are two reasons for this, the report stated.
Firstly customs officials are screening all the cargo instead of the five percent they used to check before the COVID-19 outbreak and secondly because not all trucks have GPS trackers – which are mandatory to stop theft and to ensure the containers don’t go missing along Taliban controlled routes.
However, the company tasked to install trackers refuted these claims.
Ghulam Nayab, commercial consular at the Afghanistan consulate in Karachi told Bloomberg that “transit consignments that landed in June are still lying at Karachi port,” said Nayab.
South Asia Pakistan Terminal, the nation’s biggest and deepest container terminal, alone has a backlog of 1,600 boxes, according to Rashid Jamil, chief executive officer of SAPT, a unit of Hutchison Port Holdings.
This, according to Bloomberg, is eroding Pakistan’s trade surplus to Afghanistan even further as a sharp decline has been recorded over the past three years.
In this time, Pakistani exports to Afghanistan have dropped more than 40 percent in the three years that ended in June, to $889 million, according to official data.
Bilateral trade stood at $1.01 billion last fiscal year, down more than 38 percent from $1.64 billion in fiscal 2018, reported Bloomberg.
Afghanistan meanwhile has tried to push for quicker clearance of these containers and also requested that Pakistan waive the demurrage and detention charges, which range from $120 to $200 a day, according to Nayab’s letter to the Pakistani customs office.
“Traders are losing millions of dollars because of shipping and port demurrages,” Nayab said.
Business
‘Made in Afghanistan’ expo opens in Tashkent
The Afghanistan Chamber of Commerce and Investment has announced that a major exhibition of Afghan products titled “Made in Afghanistan” is opening today (Wednesday) in Uzbekistan’s capital Tashkent.
According to the chamber, the expo—supported financially by the United Nations Development Programme—will run until Friday and aims to showcase Afghanistan’s production and export potential.
More than 60 booths have been set up by Afghan traders, featuring a wide range of products including carpets, dried and fresh fruits, saffron, pine nuts, cotton, precious and semi-precious stones, as well as beverages.
Officials from the chamber expressed hope that the expo will help expand trade relations between Afghanistan and countries in the region, particularly Uzbekistan.
Business
Afghani strengthens nearly 10% against US dollar amid banking sector reforms
The bank said it has expanded oversight of financial institutions and private lenders, improving transparency and promoting more consistent standards across the sector.
Afghanistan’s central bank, Da Afghanistan Bank, says the national currency has appreciated by 9.93% against the US dollar during the year 1404, citing steady progress in the country’s financial and banking systems.
Officials attributed the gains to cautious monetary policies that have helped stabilise the Afghani against major global currencies while also boosting its value against the dollar.
The bank said it has expanded oversight of financial institutions and private lenders, improving transparency and promoting more consistent standards across the sector.
As part of efforts to better manage liquidity, authorities also collected and destroyed worn-out banknotes in circulation. At the same time, officials reported growth in electronic banking, with digital payment usage rising in recent months.
Central bank spokesperson Haseebullah Noori said initiatives are underway to broaden access to banking services nationwide, including the wider rollout of Islamic banking options.
Analysts welcomed the stabilisation efforts but stressed the need to address ongoing challenges facing domestic banks, including the impact of international financial sanctions on Afghanistan.
They added that expanding Islamic banking could help draw more savings into the formal financial system, noting that a significant share of personal wealth remains outside banks. Bringing those funds into the sector, they said, could inject billions of Afghanis into the economy and further support financial stability.
Business
Uzbekistan delivers over 290 tons of aid to Afghanistan
The assistance, provided ahead of Eid al-Fitr, is intended to support vulnerable communities while reinforcing ties between the neighboring countries.
Uzbekistan has delivered more than 290 tons of humanitarian aid to Afghanistan, according to the country’s Ministry of Foreign Affairs.
The assistance, provided ahead of Eid al-Fitr, is intended to support vulnerable communities while reinforcing ties between the neighboring countries.
The shipment includes essential food supplies such as flour, rice, wheat, vegetable oil, instant meals, pasta, and confectionery. An official handover ceremony was held in the border town of Hairatan.
Local officials, including Balkh province representatives and authorities from Hairatan, expressed appreciation for the continued support, acknowledging Uzbekistan’s efforts to assist the Afghan people.
Among those present at the ceremony were Uzbekistan’s Ambassador to Afghanistan, Oybek Usmanov, and Surkhandarya regional governor Ulugbek Kosimov.
The aid delivery underscores Uzbekistan’s ongoing humanitarian engagement and its broader efforts to promote regional cooperation and stability.
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