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MoCI in talks with World Bank to resolve Afghanistan’s banking problem

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(Last Updated On: October 15, 2022)

Ministry of Commerce and Industry (MoCI) officials said they have started discussions with the World Bank to resolve the current banking crisis in the country.

Officials said a delegation from the Islamic Emirate of Afghanistan (IEA) is holding talks with the World Bank on the issue.

“The Economic Commission, the Ministry of Commerce and Industry and the Ministry of Finance have a special program with the World Bank and the United Nations,” said Nooruddin Azizi, Minister of Commerce and Industry.

According to Azizi, some banks add to the challenges.

“Actually, there is no limitation in banking matters, but the banks themselves cause problems,” he said.

On the other hand, the private sector has said that the problems in Afghanistan’s banking system that arose after last year’s political developments have had a negative impact on the country’s commercial and economic activities and resulted in many problems for businessmen.

According to them, the country’s economy will get a quick boost if the IEA is able to resolve the banking problems.

“Some banks do transactions, but it takes time, but the fact that the Ministry of Finance and the Ministry of Commerce intend to talk with the World Bank in order to resolve banking problems is welcome,” said Khanjan Alokozai, a member of Afghanistan Chamber of Commerce and Investment (ACCI).

Economic experts believe that investment and economic growth in the country will be impossible until Afghanistan’s banking problems are resolved

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Eight dead in rain across Afghanistan over past four days

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(Last Updated On: April 29, 2024)

Mullah Janan Saiq, the spokesperson of the Ministry of Natural Disasters, says that eight people have died, three people have been injured and 20 hectares of agricultural land have been destroyed as a result of the rains and floods in the past four days.

Saiq also said that as a result of the recent rains in the country, 140 houses were damaged or destroyed and 20 kilometers of roads were also destroyed across the country.
According to him, 30 cows were also lost.

“Fortunately, as a result of the recent rains, the water level in the country has increased, the underground water has been strengthened and the farmers are happy,”
he said.

According to him, the Ministry of Natural Disasters has directed its directorates in the provinces to use all their facilities to help the victims.

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Ghori State Cement in Baghlan increases production

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(Last Updated On: April 28, 2024)

Officials at Ghori State Cement in Baghlan province say the amount of cement produced at this plant has increased compared to the past.

According to company officials, 150,000 tons of cement was produced in 1402 [solar year] and they are trying to increase the amount to 180,000 tons this year.

“Last year, we successfully produced 150,000 tons of cement and sold it to the market. Fortunately, in 1402, we had more than 200 million afghanis in revenue,” said Abdul Wakil Qayumi, financial and administrative deputy of the company.

The plant officials stated that efforts are underway to increase the production capacity, and with the increase of the production capacity, they will produce 1000 bags of cement per day.

“Currently, our four ovens are active, and we produce approximately 1,000 to 1,200 tons of cement in twenty-four hours,” said Mohammad Tahir, packaging manager for the company.

In this company, jobs are created for 750 individuals, and some workers have asked the traders to invest in the country and provide work for young people.

“Some more factories should be built in our country so that less foreign cement is imported into the country and we use our own products,” said one of the company workers.

Ghori Baghlan Cement Company was established about 40 years ago and is considered one of the largest cement production companies in Afghanistan.

The management of this company is carried out by the National Development Corporation (NDC).

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Regional countries should jointly expand stability and development: Deputy PM

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(Last Updated On: April 28, 2024)

Mawlawi Abdul Kabir, Political Deputy Prime Minister, has said in a meeting with the Deputy Prime Minister of Kazakhstan in Kabul that regional countries should play their role in the implementation of large regional projects.

Kabir also invited Kazakh businessmen to invest in Afghanistan, his office said in a statement.

He added that the Islamic Emirate fully controls Afghanistan’s borders, has eliminated drugs and corruption, and restored national sovereignty.

According to the statement, Deputy Prime Minister of Kazakhstan Serik Zhumangarin appreciated the progress made by the Islamic Emirate in Afghanistan and said that his country is ready for long-term trade, transit and investment relations with Afghanistan.

Zhumangarin expressed his country’s readiness to grant scholarships to Afghan youth and added that Afghanistan is currently an example of a peaceful country in the region, and due to this, the world wants to establish relations with the Islamic Emirate in various fields.

He also called for the start of direct flights between Kabul and Almaty and said that his country is ready for bilateral cooperation with the Afghan government in the cultural field.

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