Business
Concerns grow over economic situation as Kabul banks remain closed

Afghans on Tuesday warned the ongoing closure of banks will lead to an economic crisis in the country and appealed to the Taliban to get the banks to reopen as soon as possible.
This comes after the Ministry of Finance issued a statement Sunday saying that the banks would reopen on Tuesday.
Members of the public said if banks do not open soon they will start demonstrating.
Banks have been closed for more than a week, following the takeover of the country by the Taliban.
Residents said they kept their money in banks as a safety precaution but are now facing extreme difficulties.
“We put our money in the bank because of thieves, but now that the security is maintained, we cannot withdraw our money,” said Yasmin, one Kabul resident.
“We call on the Taliban to open the banks as soon as possible,” said Abdul Wali Noor, another resident.
“I come every day, unfortunately the banks do not open and it has made us more worried. If the banks do not open, we will hold demonstrations,” said Mohammadi, another Kabul resident.
Another resident said: “I have several months worth of salaries in the bank, but the banks have been closed for 10 days. We are starving to death,” said Abdullah, another resident.
Economists also say that the closure of banks has had a negative impact on food prices.
“They (bank employees) say there is no money, and the cash we had is now finished. Shopkeepers also will not let you borrow money,” said Ahmad Shah, another resident.
However, the Ministry of Finance issued a statement Sunday saying that the banks would reopen on Tuesday, but this has not happened.
This comes after the Taliban appointed an acting director for the Central Bank.
Business
Pakistan, Turkmenistan sign accord to implement TAPI project

Pakistan and Turkmenistan signed a joint implementation plan on Thursday to execute the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project.
The ceremony was attended by Prime Minister Shehbaz Sharif and a delegation of Turkmenistan led by Minister of Energy and Water Resources in Islamabad, Dawn newspaper reported.
Pakistan’s State Minister for Petroleum Musadik Malik and Turkmenistan’s State Minister and Chairman of TurkmenGas, Maskat Babayev inked the accord.
The 1,800-kilometre pipeline is expected to carry 33 billion cubic metres of natural gas every year from Turkmenistan’s Galkynysh — the world’s second-largest gas field — to the Indian city of Fazilka. It will pass through Herat and Kandahar, in Afghanistan, and Quetta and Multan in Pakistan.
Speaking on the occasion, Pakistan PM Shehbaz termed TAPI a very important project for the progress of the entire region, adding that it would help the region secure natural gas with concrete assurances and mutually agreed terms and conditions.
Highlighting the significance of energy for developing countries, he said: “We have to negotiate with this challenge through speedy action.”
Shehbaz expressed confidence that the TAPI project would lead to an era of regional cooperation, development, and prosperity. He asked the Pakistani team to expedite its planning and subsequently its execution.
He mentioned that in view of the global situation, energy had become a real challenge. “For a developing country like Pakistan, there is a need for speedy actions to explore the options for energy.”
Later, in a tweet, PM Shehbaz termed the TAPI Joint Implementation Plan “a step forward for the execution of the project”. He said the project was vital to meeting the country’s energy needs.
“Pakistan wants the project to be implemented at fastest speed. In view of costlier fuel prices and gas shortages globally, we are exploring all options to procure all forms of energy on a sustainable basis as part of a comprehensive national energy security plan,” the prime minister said.
He added that the completion of the TAPI project “will be a game-changer for the region in terms of enhanced economic cooperation.”
Business
Minister of mines meets Chinese ambassador in Kabul

Afghanistan’s Minister of Mines and Petroleum Shahabuddin Delawar met with Chinese Ambassador Wang Yu in Kabul to discuss investment opportunities and Chinese projects.
A press release from the Ministry of Mines and Petroleum said that during the meeting, the officials discussed investment opportunities, progress in the extraction in Kashkari oil field, and starting work on Mes Aynak copper mine.
Delawar called these projects important for the two countries and spoke about the social services that are included in the contract of the projects.
On the other hand, the Chinese ambassador expressed his satisfaction with his trip to the northern provinces including a visit to the Kashqari oil field, and provided information about the financial, administrative and technical plans of this project.
The Minister of Mines and Petroleum called for speeding up the implementation of the projects.
Business
Islamic Development Bank pledges $8.1 million to help Afghanistan

The Islamic Development Bank (IDB) has signed cooperation agreements worth $8.1 million with six international humanitarian agencies to help the people of Afghanistan in various sectors.
The contracts are in the areas of food security, drinking water supply, health and in agriculture in different provinces of the country.
The Ministry of Finance in a statement welcomed the move.
“The Ministry of Finance welcomes this good action of the Organization of Islamic Cooperation, the Islamic Development Bank, the King Salman charity, the Saudi Fund and the member countries of the Organization of Islamic Cooperation and expresses its gratitude and appreciation for their humanitarian and generous assistance to the people of Afghanistan,” the statement said.
The Ministry of Finance called on all humanitarian aid organizations to design projects, taking into account the realities and priorities of the society and with the coordination of the ministry, so that the existing problems of the people are “completely solved.”
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