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DABS asks government for $50 million loan

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Officials in Da Afghanistan Breshna Sherkat say that the income of the company has reduced by 60% following the Coronavirus outbreak. They warn if the government doesn’t issue the loan; DABS will not be able to afford to buy electricity from domain countries.

The spokesperson for DABS underlined that the company needed a loan of $50 million to meet its problems.

He warned that without the loan, no electricity could be purchased from the neighboring countries.

Wahidullah Tawhidi, the spokesperson for DABS, said, “Afghanistan’s electricity is imported, and we pay $25 million to the neighboring countries every month; therefore, we want the government to give us a loan of $50 million.”

It is noteworthy that the ministry of finance has said that the requisition of DABS for the loan has been under process.

The outbreak of COVID-19 pandemic has affected not only the Da Afghanistan Breshna Sherkat but some other businesses too.

The Afghanistan Chamber of Commerce and Investment warns that without the government’s financial backup, companies will go bankrupt.

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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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