Business

Finance Ministry reports 35% rise in revenues

Published

1 year ago

February 17, 2023

(Last Updated On: )

The Ministry of Finance says it has collected more than 150 billion afghanis in revenues in the past 10 months, which represents a 35% increase compared to the same period last year.

The officials of the ministry add that the volume of the country’s exports has also increased this year compared to previous years, and they are seeking to boost economic activities in the country.

“One of the basic duties of the Ministry of Finance is to collect revenues. Revenues are much better than before. In the first ten months of the current year, we collected about 150 billion afghanis. If we compare this with previous years, it shows a 30 or 35 percent increase. This shows that we are in a positive direction economically,” said Ahmed Wali Haqmal, the spokesman of the Ministry of Finance.

Members of the private sector also welcome the provision of facilities for the development of economic activities by the Islamic Emirate, as they call on IEA to step up efforts to attract foreign investment in the country.

Khan Jan Alokozai, a member of the Chamber of Commerce and Investment, said that investments should be made in major projects such as Mes Aynak copper mining and electricity generation from coal.

Economic experts are of the opinion that the provision of facilities can increase domestic and foreign investments in different economic sectors in the country and help resolve the economic crisis.

“If the Taliban government (Islamic Emirate) wants to increase the level of exports, it should create incentives, shorten legal procedures and create transparency in them. It should develop industrial parks, reduce tariffs and facilitate the production of raw materials,” said Abdul Qadir Jilani, an expert on economic affairs.

Finance Ministry officials say major economic projects will be launched next year, and with it more jobs will be created.

Related Topics:#Revenues Economy featured Finance IEA

Up Next

Pakistani goods transported to Central Asia without any problems: Afghanistan

Don't Miss

Afghanistan-Uzbekistan ink new deal to maintain Hairatan-Mazar railway line

Business

Contract worth $113 million signed for e-scanners at Afghan ports

According to the deal, 33 scanners will be installed at the country’s 12 ports to bolster security and curb smuggling.

Published

15 mins ago

July 27, 2024

Ariana News

(Last Updated On: )

A contract worth $113 million was signed on Saturday for the installation of electronic scanners at the country’s customs units at border crossings.

According to the deal, 33 scanners will be installed at the country’s 12 customs units to bolster security and curb smuggling.

The scanners will be installed at Torkham, Hairatan, Spin Boldak, Islam Qala, Torghundi, Nimroz, Abu Nasr Farahi, Khost, Paktia, Aqina, and Sher Khan ports to ensure comprehensive screening of all types of goods, the Office of the Deputy Prime Minister for Economic Affairs said in a statement.

The contract was signed between the Ministry of Finance and a private company.

The project is slated for completion within two years, providing approximately 2,000 job opportunities and representing a significant step forward in modernizing the country’s customs infrastructure, the statement said.

Economic Commission approves installation of scanners at 12 customs units at border crossings

Business

$23 million pharmaceutical company opens in Kabul

The Islamic Emirate officials also stated that while they fully cooperate with pharmaceutical companies, these manufacturers need to produce drugs that meet international standards.

Published

22 hours ago

July 26, 2024

Ariana News

(Last Updated On: )

A new pharmaceutical company, costing $20 million, was officially opened on Thursday in Kabul in the presence of Islamic Emirate leaders, including Deputy Prime Minister for Economic Affairs Mullah Abdul Ghani Baradar.

The new company will reportedly manufacture 50 different types of drugs once fully operational.
Addressing the launch ceremony on Thursday, Baradar outlined the importance of quality in terms of pharmaceuticals and said poor-quality drugs threaten lives while good-quality medicines can save lives.

Baradar also pointed out that more manufacturing companies like this will help grow the country’s economy.

He once again called on investors, both in the country and abroad, to help in the reconstruction and development of the country and start businesses. He also said the way has been paved for them to invest and that they should make use of the opportunities available.

Health officials meanwhile said that currently there are 77 pharmaceutical companies in the country and that serious efforts are being made to make the country self-sufficient in this regard.

The Islamic Emirate officials also stated that while they fully cooperate with pharmaceutical companies, these manufacturers need to produce drugs that meet international standards.

Kandahar officials inaugurate $50 million pharmaceutical company

Business

Sugar exports to Afghanistan resume after four year break

Islamabad banned the export of sugar to Afghanistan four years ago to address shortages and control prices in the country.

Published

2 days ago

July 25, 2024

Ariana News

(Last Updated On: )

Sugar exports from Pakistan to Afghanistan resumed this week after a four-year suspension, with over 400 vehicles crossing the Torkham border in the last four days.

According to Pakistan sources, Islamabad recently agreed to the export of 150,000 tons of sugar to Afghanistan, setting an August 15 deadline for the completion of the shipment process.

Customs clearing agents at Torkham said around 100 vehicles, each carrying 33 tons of sugar, crossed into Afghanistan four days ago and more thereafter.

Islamabad banned the export of sugar to Afghanistan four years ago to address shortages and control prices in the country.