Kandahar provincial officials said Thursday another cotton processing factory has been established in the province at a cost of more than 50 million afghanis.
According to them, the factory has the ability to process 32 tons of cotton, two tons of oil, and two tons of soap within eight hours.
Meanwhile, Chamber of Industry and Commerce officials in Kandahar province said that if electricity problems in Kandahar industrial parks are resolved, inactive factories would be restarted.
Sayed Sarwar Amani, head of the Kandahar Chamber of Industry and Commerce, said: “If we have electricity, we will see more factories opening.”
Business owners said they are facing numerous problems in the industrial parks.
“We call on the Islamic Emirate to provide facilities and services for the investors,” said Abdul Bari, one industrial park business owner.
The local officials meanwhile stated that they will try to solve the problems and provide a good working environment for the people.
The latest cotton processing plant brings the total in Kandahar to 27 such factories, which in turn provide employment for 1,500 people directly and 3,000 people indirectly.
Annually, 170,000 tons of processed cotton are exported from these factories, which collectively generate $400 million.
IEA’s Ministry of Finance: The recent report of SIGAR is far from the truth
The Ministry of Finance of the Islamic Emirate of Afghanistan (IEA) considered the recent report of “SIGAR” about companies and institutions in Afghanistan to be far from the truth and rejected it.
In the announcement that was published by this ministry on Sunday (5th January), it is stated: “The Office of the Special Inspector General of the United States of America for Afghanistan “SIGAR” has claimed in its quarterly report to the US Congress that the Islamic Emirate of Afghanistan, receives money from those organizations and institutions that work in the field of humanitarian aid; under the license fee, tax and administrative fees, which provide a large part of Afghanistan’s revenue The Ministry of Finance of the Islamic Emirate of Afghanistan considers the said report to be far from the truth and rejects it separately.”
“The Ministry of Finance has exempted those organizations and institutions that are active in the field of humanitarian aid, No money is received from them, and no administrative expenses are imposed on them.” Read the ministry statement.
The Ministry of Finance has also added that in all the country’s customs, the customs tariff of the goods imported by these organizations and institutions has reached zero, and the goods of the mentioned institutions enter the country without tax.
According to this ministry, only license fee is taken from foreign organizations and institutions, which is a small amount and has a legal framework and is balanced with other countries and has no effect on Afghanistan’s national income.
The Ministry of Finance has assured that the organs of the Islamic Emirate, including the Ministry of Finance, provide administrative, financial and security facilities for the organizations and institutions that operate in the field of humanitarian aid and are committed to all their promises in this field and in the distribution and sending of humanitarian aid they are partners with them.
Flour mill opens in Herat province
The Ministry of Industry and Commerce says that a new flour mill has opened and is now operational in Herat province.
Afghan Industry and Commerce Minister Nooruddin Azizi, inaugurated the flour mill, which is privately owned, on Saturday in the presence of an accompanying delegation.
According to the ministry, Azizi thanked the business owner for investing in the mill, which was built in Phase 1 of Herat Industrial Park at a cost of $1.2 million.
The flour mill will be able to produce 180 tons of flour per day, and has provided employment for more than 700 people.
Afghanistan, Pakistan sign draft convention to avoid double taxation
Afghanistan and Pakistan have signed a draft convention to avoid double taxation between the two countries.
The convention was signed after three-day talks concluded in Islamabad on Friday, Pakistan’s Federal Board of Revenue said in an announcement.
The Afghan delegation was headed by Revenue Legal Services Director Nida Muhammad Seddiqi while FBR’s International Tax Operations DG Sajidullah Siddiqui headed the Pakistani delegation.
The sides thoroughly deliberated over all the outstanding issues identified during the second round of negotiations held in Islamabad from 27th-30th December, 2021.
FBR Chairman Asim Ahmad thanked the Afghan delegation for visiting Pakistan and expressed optimism that the convention will further strengthen economic relations between the two countries.
Pakistan’s special envoy for Afghanistan welcomed the move as “another important step forward.”
“It took us some 12 years to cross this milestone. Investors, contractors and businesses on both sides will benefit significantly,” Mohammad Sadiq said on Twitter.
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