Connect with us

Business

IEA says customs revenue generated to exceed fiscal target

Published

on

(Last Updated On: )

The Ministry of Finance of the Islamic Emirate of Afghanistan (IEA), said Wednesday that revenue generated through customs tariffs totals 105 billion afghanis, and will exceed expectations before the close of this year’s fiscal.

Officials said that with 15 days still to go, they expect the revenue to close at 110 billion afghanis for the fiscal year.

Transparency in the revenue collection process and the appointment of experts are said to be factors in increasing customs revenue, the ministry stated.

This is despite the fact that in the financial year of 1400, 64 billion afghanis was earned and in the financial year of 1399, 72 billion afghanis was earned.
.
“Before the re-establishment of the Islamic Emirate, the country’s customs had never been able to complete the goal set by the Ministry of Finance, and this is the first time that the country’s customs has reached its revenue goal, and even its revenue from the set goal has been raised,” the ministry said.

Business

Baradar hails Termez Trade Center as a ‘new chapter’ in Afghan-Uzbek partnership

This will positively impact the economic relations between the two countries and establish the center as a key economic hub and commercial gateway for Central and South Asian nations, he said.

Published

on

(Last Updated On: )

In a ceremony to inaugurate an international trade center in Uzbekistan’s border city of Termez on Thursday, Mullah Abdul Ghani Bardar, Deputy Prime Minister for Economic Affairs, said that the center marks a new chapter of friendship, cooperation and partnership between Afghanistan and Uzbekistan, laying the groundwork for long-term prosperity and development of both countries.

Baradar noted that the center will enhance investment opportunities, commercial relationships, and job creation in both nations, and will introduce new markets for products and goods, and, overall, accelerate economic growth, according to a statement released by his office.

Highlighting the importance of this center, Mullah Baradar mentioned that the center’s inauguration would facilitate the production, processing, and export of goods, making it easier to access regional and global markets.

This will positively impact the economic relations between the two countries and establish the center as a key economic hub and commercial gateway for Central and South Asian nations, he said.

Furthermore, the trade center will strengthen joint cooperation between the two countries in the fields of technology and innovation.

According to Mullah Baradar, the center will create essential facilities and opportunities for Afghan and Uzbek traders, enabling them to find suitable markets for their products and actively contribute to the region’s economic development.

He called on the international community to establish appropriate reciprocal economic and trade relations with the Islamic Emirate of Afghanistan, in line with its economy-focused policies, and assured that the Islamic Emirate is committed to providing all necessary support and facilitation in this regard.

The ceremony was also attended by senior officials of Uzbekistan, Azerbaijan, Kazakhstan and Kyrgyzstan.

Continue Reading

Business

Bayat Power in talks with Afghan officials for Phase 2 of gas to electricity project

Sahibzada said Bayat Power’s natural gas to electricity generation project will eventually produce up to 250 megawatts of electricity once Phase 3 is complete.

Published

on

(Last Updated On: )

Bayat Power officials say they are hoping to start work soon on Phase 2 of Bayat Power-1 in northern Jawzjan province in order to increase electricity production output for Afghanistan.

Company officials said Tuesday they have started discussions with relevant government departments to start the project.

Mohammad Shoaib Sahibzada, the technical head of Bayat Power, said that once Phase 2 is complete, electricity production will increase from 40 to 100 megawatts.

Sahibzada said Bayat Power’s natural gas to electricity generation project will eventually produce up to 250 megawatts of electricity once Phase 3 is complete.

“Currently, it has a production of 40 megawatts, and in the second phase, it will produce 100 megawatts. Bayat Power is in contact with the relevant officials regarding the start of the second phase, the discussions are ongoing,” said Sahibzada.

Bayat Power has produced one billion kilowatt hours of electricity in under five years after starting commercial operations in late 2019.

Sahibzada said that over the past five years, the company has also worked on capacity building of its technical employees.

After 40 years, Bayat Power is the first private company to produce electricity from natural gas in the country and the multi-million dollar plant uses Siemens Energy’s SGT-A45 mobile gas turbine for its economic efficiency, flexible deployment, and power density.

Currently providing electricity to hundreds of thousands of end-users and generating more than 300 million kWh annually, the project was structured as an innovative public-private partnership between Bayat Power, Siemens Energy, and Afghanistan government entities such as the Ministry of Mines and Petroleum, the Ministry of Energy and Water, and the General Directorate of Afghan Gas Corporation Company, Da Afghanistan Breshna Sherkat (DABS), and international partners.

The Bayat Group is the largest private investor in Afghanistan and Bayat Power is currently the only gas-powered plant in the country. The Siemens Energy’s SGT-A45 mobile gas turbine used by the company is the only one in operation in the world.

The former head of DABS Amanullah Ghalib said this week that Bayat Power was a good example of Afghanistan being able to implement big projects.

“To achieve self-sufficiency, one of the most important resources for Afghanistan is natural gas. Afghanistan has a lot of natural gas resources in the north and northeast, from which it can become self-sufficient for electricity production and reduce its dependence on its neighbors,” said Ghalib.

“Bayat Power project is one of the very effective and good examples that Afghanistan can use its experience and implement bigger projects in the future,” Ghalib added.

Related Stories: 

Bayat Power blazes ahead as it hits the one billion kWh of energy production milestone

Afghanistan’s Bayat Power the Proud Winner of Asian Power Award 2023

Continue Reading

Business

Iran reports 33% increase in exports to Afghanistan in first 3 months of 2024

Ruhollah Latifi, the spokesman for Iran’s chamber of industry and trade, said the total volume for this period was worth $520 million.

Published

on

(Last Updated On: )

Iran reported Monday its exports to Afghanistan increased by 33 percent in the first three months of this year.

Ruhollah Latifi, the spokesman for Iran’s chamber of industry and trade, said the total volume for this period was worth $520 million.

He also said Iran’s exports to Afghanistan could surpass $2 billion by the end of 2024, IRIB news agency reported.

Although Iran does not yet officially recognize the Islamic Emirate government, the country continues to develop trade links with its neighbor.

Continue Reading
Advertisement
Advertisement
Advertisement

Trending

Copyright © 2022 Ariana News. All rights reserved!