Business

IEA drafts budget for next fiscal year

Published

1 year ago

February 22, 2023

(Last Updated On: )

The Ministry of Finance has announced that the draft budget for the fiscal year 1402, starting March 20, has been prepared and will soon be sent to the offices of the deputy prime ministers for economic and administrative affairs.

According to the ministry, there has been an increase in the budget for next year against this year, and dozens of projects have been included in the draft.

“The Economic Commission has decided to allocate funds for projects where work has progressed 50%. After analyzing and reviewing, the Ministry of Finance selected 11 projects, which were also approved by the Economic Commission. Budgets have been considered for dozens of other small and large projects as well,” said Ahmad Wali Haqmal, the spokesman of the Ministry of Finance.

Economic experts say that the government should launch development projects soon after the budget is approved, and there should be no further delay in the implementation of construction projects.

“The funds for the development budget are obtained from the projects. With projects, people’s livelihood and well-being are provided. Projects cause production and production causes economic self-sufficiency,” said Taj Mohammad Talash, an expert on economic affairs.

The Ministry of Finance says that despite the problems in boosting Afghanistan’s trade relations, they have managed to increase customs revenue to 100 billion Afghanis.

This comes as the economic situation has deteriorated in recent years. According to the United Nations, 28 million people need humanitarian aid in Afghanistan.

Related Topics:Budget featured Finance IEA

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$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

19 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.

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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.

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Chinese keen on investing in Afghanistan’s solar power sector

At the same time, the deputy minister welcomed their interest and stated that Afghanistan is a place of opportunities for investment and that the ministry is ready to cooperate.

Published

4 days ago

July 23, 2024

Ariana News

(Last Updated On: )

The Ministry of Industry and Commerce says that Ahmadullah Zahid, deputy minister, met with a number of Chinese investors in his office on Tuesday.

According to a statement issued by the ministry, Ehsanullah Shahab, the head of special economic zones, was also present in this meeting, where investors from China expressed their interest in investing in solar power generation and agriculture technology sectors.

At the same time, the deputy minister welcomed their interest and stated that Afghanistan is a place of opportunities for investment and that the ministry is ready to cooperate.

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