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9,000 goods containers held up for months by Pakistani officials

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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.

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Iraqi intelligence report alleges oil smuggling network supplying Afghanistan and Turkey through Iran

The report highlights broader challenges facing regional authorities in combating illicit oil trade and enforcing international sanctions.

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An Iraqi intelligence report obtained by Sky News Arabia has revealed alleged large-scale crude oil smuggling operations from northern Iraq into Iran, where the oil is reportedly refined and later sold in regional markets, including Afghanistan and Turkey.

According to the report, shipments of crude oil are transported through land routes and unofficial trade channels into Iranian territory, where they undergo refining and processing before being re-exported to foreign markets.

The intelligence findings suggest that the alleged network is designed to bypass international sanctions and facilitate the movement of petroleum products outside official trade and financial monitoring systems.

The report further indicates that smuggling networks rely on informal transportation routes and cross-border commercial channels to maintain the collection, processing and distribution of oil products while avoiding regulatory oversight.

The revelations have raised concerns over cross-border smuggling, the loss of national resources and the potential impact of illicit oil trade on regional economies.

Security and political observers say the reported activities could put additional pressure on Iraqi authorities to strengthen border controls, monitor oil transportation routes and improve coordination with regional and international partners.

However, the allegations outlined in the intelligence report have not been independently verified, and further details about the networks involved, the quantities of oil transported and the scale of supplies reaching Afghanistan and Turkey remain unclear.

The report highlights broader challenges facing regional authorities in combating illicit oil trade and enforcing international sanctions.

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$30 million pharmaceutical investment launched in Herat as new production line opens

Meanwhile, the newly inaugurated serum and injectable production line is capable of producing up to 100,000 packages of serum per day.

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The foundation stone has been laid for three new pharmaceutical production blocks at Ovison Pharma in Herat, with an investment of $30 million, while the factory’s new serum and injectable production line has also been inaugurated.

The new production blocks will be constructed on a 3,000-square-metre site, with each facility planned to have five floors. Equipped with advanced machinery and designed to meet international standards, the expansion is expected to significantly increase the factory’s pharmaceutical production capacity.

Meanwhile, the newly inaugurated serum and injectable production line is capable of producing up to 100,000 packages of serum per day.

The expansion marks a significant step toward strengthening Afghanistan’s pharmaceutical industry, increasing domestic production and reducing the country’s reliance on imported medicines.

The investment is also expected to support the development of local manufacturing capacity and improve access to domestically produced pharmaceutical products.

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Afghanistan approves new foreign investment policy in bid to attract international investors

The decisions have been forwarded to the office of the Supreme Leader of the Islamic Emirate for final approval.

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Afghanistan’s Economic Commission has approved a new foreign investment policy aimed at attracting international investors, improving investment opportunities and supporting the country’s economic growth.

The decision was made during the commission’s regular meeting, chaired by Mullah Abdul Ghani Baradar, Deputy Prime Minister for Economic Affairs, at the Marble Palace on Monday.

According to the Deputy Prime Minister’s Office for Economic Affairs, the proposed policy was presented by a committee established under the leadership of the economic deputy office. Following a comprehensive review and consideration of the commission’s recommendations, the policy was approved.

The policy aims to regulate foreign investment activities, facilitate investment procedures, create a favourable environment for investors, ensure investment security and promote Afghanistan’s economic growth and development.

During the meeting, the commission also approved a proposal concerning the payment of fixed taxes by commercial import companies at the country’s customs offices.

Officials said implementing the proposal would create additional facilities and simplify procedures for importing businesses.

The decisions have been forwarded to the office of the Supreme Leader of the Islamic Emirate for final approval.

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