Connect with us

Business

MRRD spends 39% of its development budget

Published

on

(Last Updated On: October 24, 2022)

PROJECT__05_07_2016_DARI_SOT.mpg_snapshot_00.30_[2016.07.05_15.50.50]

Ministry of Rural and Rehabilitation and Development (MRRD) has spent 39 percent of its development budget in the first six months of the current year, officials said.

Officials in MRRD have declared that they have implemented more than 5246 different projects, cost $ 145 million in all across the country.

They emphasized that more than 8,000 other public projects to be implemented by the end of the current year.

“We have implemented our projects and we are attempting to completely spend our development budget by the end of the current year,” said Akbar Rustami, spokesman of MRRD.

According to officials, MRRD’s priority is providing the sustainable electricity from domestic sources.

“The program of generating a sustainable electricity is continuing and 231 projects cost 510 million Afghanis have been implemented so far,” Rustami added.

Earlier, most of the government institutions have spent a small part of its development budget as MRRD announces readiness to completely spend its budget by the end of the current year.

Advertisement

Business

Turkmenistan business delegation visits Herat

Published

on

(Last Updated On: May 5, 2024)

Nokerguly Atagulyev, the head of the Union of Industrialists and Entrepreneurs of Turkmenistan, has visited Herat province for trade talks, the Ministry of Industry and Commerce announced on Saturday.

The ministry said in a statement that the purpose of the Turkmen delegation’s visit is to help reduce Afghanistan’s trade deficit, to foster commercial and economic cooperation, examine Afghanistan’s proposal for the supply of construction materials, especially marble and iron bars and for the growth of trade and transit between the two countries.

The delegation is also expected to meet with officials and private sector representatives, and visit commercial and industrial sites of Afghanistan, especially in Herat province.

The visit comes after Nooruddin Azizi, Acting Minister of Industry and Commerce’s trip to Turkmenistan. The aim is to open the first Afghan-Turkmen Business Forum and discuss the import of construction materials, especially marble and iron bars from Afghanistan.

Continue Reading

Business

IEA plans regional energy trade hub with Russian oil in mind

Published

on

(Last Updated On: May 3, 2024)

The Islamic Emirate of Afghanistan (IEA) has agreed with Kazakhstan and Turkmenistan to build a logistics hub in western Afghanistan aimed at making the war-torn nation a major logistics point for regional exports, including oil from Russia to South Asia, the country’s commerce minister said.

Following a meeting between representatives of the three countries in the Afghan capital last week, IEA’s acting commerce minister Nooruddin Azizi told Reuters that technical teams would draw up a written agreement within two months on the formal plans for the hub, which all three countries would invest in after six months of talks.

As foreign aid to Afghanistan falls and the predominantly agricultural economy is marred by persistent drought, its officially unrecognised IEA government has faced questions over how to fund development and avoid economic stagnation, Reuters reported.

Azizi said the new hub was part of broader efforts to take advantage of Afghanistan’s strategic location, once a thoroughfare for the ancient Silk Road trade route, lying between South and Central Asia and sharing borders with China and Iran.

“Based on our discussions, a logistics centre is going to be established in Herat province, which can connect the north to South Asia,” Azizi said, adding that the Taliban (IEA) was eyeing the millions of tons of oil they expected Russia would be selling in coming years to South Asian countries, particularly Pakistan, to pass through the new hub.

“The three countries have done their best to prove Afghanistan’s claim as a connectivity point,” he said.

“Reaching Pakistan through Afghanistan will be the best option,” Azizi added, saying they were focused on Russia’s petroleum exports and that Kazakhstan was also planning to export goods through Herat into South Asian markets.

Kazakhstan’s trade ministry said in a statement to Reuters that it wanted to develop roads and a railway through Afghanistan to connect with South Asia and the Gulf, with the hub serving as an important logistics point.

“The creation of the hub will allow for the development of multi-modal services by consolidating truck shipments in the dry port where they will be sorted and sent along railroads on the North-South corridor to sea ports in the Gulf, Pakistan, and Indian Ocean, towards India,” the statement said.

Azizi said the logistics hub’s initial capacity would be one million tons of oil but he did not give a date for when it would be operational.

Turkmenistan’s government did not immediately respond to a request for comment and the Russian government did not respond to a request for comment during a national holiday.

Pakistan’s foreign office and energy minister did not respond to a request for comment. Pakistan is a major trading partner with Afghanistan and has signed on to regional energy connectivity agreements, Reuters reported.

However, Islamabad has had strained relations with the IEA in recent years over accusations Afghanistan is harbouring anti-Pakistan militants, which Kabul denies.

Cash-strapped Pakistan last year became Russia’s latest customer, snapping up discounted crude that has been banned from European markets due to Russia’s war on Ukraine.

Afghanistan also buys oil, gas and wheat from Russia at discounted rates.

Azizi said that the IEA was also speaking with Chinese authorities on building a road through the remote, narrow Wakhan corridor that connects Afghanistan with China and that they hoped Afghanistan would eventually develop into a route for trade between China and Iran. He said Afghan commerce ministry officials had been recently been sent to China for training.

Continue Reading

Business

Aziz discusses trade issues while on visit to Iran

Published

on

(Last Updated On: May 2, 2024)

Acting Minister of Commerce and Industry of the Islamic Emirate of Afghanistan Nooruddin Azizi arrived in Iran’s Sistan and Baluchistan Province on Thursday for a meeting on facilitating the process of economic cooperation between the two countries.

The ministry’s spokesman Abdulsalam Javadakhandzadaa said Thursday the minister discussed the development of trade and transit relations between Iran and Afghanistan – but with the focus on the province of Sistan and Baluchistan.

Aziz also discussed the need to strengthen processes for goods through Chabahar port and emphasized the need to resolve issues relating to this trade route.

According to Javadakhandzadaa officials of the two countries discussed the strengthening of commercial and economic cooperation, while Azizi requested that costs be lowered for goods and for land to be made available in Chabahar to Afghan businessmen and for railway facilities to be provided.

Both sides agreed that in order to develop trade between the two countries and to strengthen transit through Chabahar, a joint technical committee would be established on a provincial level and that issues will be followed up by the central committee.

Continue Reading
Advertisement
Advertisement
Advertisement

Trending

Copyright © 2022 Ariana News. All rights reserved!