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Construction companies call for govt, foreign community to pay their debts

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Afghanistan’s Construction Union has called on the Islamic Emirate of Afghanistan (IEA) and the international community to pay the money owed to them for projects already worked on.

Union officials called a press conference in Kabul on Tuesday to address the issue of non-payment and said that about 2,000 construction companies are owed money for projects carried out for the former government and the international community.

“We don’t have money. People want money from us, because of this [problem] four companies have closed; our sector is facing severe financial pressure,” said Mohammad Nasir Mohtasibzada, the head of the union.

Some members of the union meanwhile called on the IEA to clarify the fate of hundreds of incomplete projects.

They also called for the release of Afghanistan’s frozen assets, which amount to over $9 billion.

“We urge the international community to release the frozen money, in order to put an end to the current economic crisis,” Shams Ur Rehman, a member of the union said.

Ministry of Finance officials meanwhile said that efforts are underway to resolve the problems faced by construction companies.

“We are committed to helping construction companies financially; one we have established a commission to investigate this, second to give money to the private sector,” said Ahmad Wali Haqmal, spokesman for the Ministry of Finance.

Economic analysts say that the Ministry of Finance and international donors should resolve the problems within the private sector, adding that if this is not done, construction companies will be forced to close and an economic collapse will occur.

“The Islamic Emirate should work to prevent the collapse of the private sector,” said Abdul Bashir Sharifi, one economic analyst.

According to analysts, the IEA should also start working closely with the private sector, and monitor the implementation of big projects.

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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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