Industrial Bank Critical To Boosting Domestic Production, Say Industrial Union Officials

Officials in Afghanistan Industrial Union have stated that establishing the Industrial Bank is critical to increasing Afghanistan’s domestic production. Ministry of Commerce and Industry officials have said no final decision has been made about establishing the Industrial Bank.

Chief of the Industrial Union Sakhi Ahmad Paiman said, “If the Government uses the funds and injects $500 in to the Industrial sector I can assure that the investors will invest one-billion dollars; if there is no ability to establish the Industrial Bank the Government could use the private and Governmental Banks to support [the] Industrial sector.”

Meanwhile, Deputy Minister of Commerce and Industry Mohammad Qurban Haqjo said,

“Efforts are underway to establish Agriculture Bank, and soon, [a] decision will be taken over establishing of the Industrial Bank.”

Qurban Haqjo said, “We have plan to establish Industrial Bank, but for the time being, we are working to establish Agriculture Bank, there is [a] specific time for establishing of Industrial Bank.”

Officials in Industrial Union stated that if the Government cannot establish the Industrial Bank, it should have the private sector help provide loans for increasing Afghanistan’s production of domestic products.

Reported by: Samera Zarfari