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IEA’s finance ministry drafting ‘bigger budget’ for next year



(Last Updated On: January 3, 2023)

The Finance Ministry of the Islamic Emirate of Afghanistan (IEA) said on Monday it has started drafting its budget for the next fiscal year, which will be bigger than this year’s budget.

A spokesman for the Ministry of Finance said they have received individual budgets from the various ministries and departments and are now working on the overall budget.

“Currently, an assessment is ongoing over the institutions’ requirements – whether or not we can pay. After the assessment is done, we will share the results with them. After that, it will go to the budget committee, then to the Cabinet and then to Amir-ul-Momineen (IEA supreme leader) for approval,” said Ahmad Wali Haqmal, a spokesman for the finance ministry.

He said that next year’s budget is expected to be higher than this year’s.

According to the official, domestic revenues have substantially increased, and it could increase further with higher levels of trade with neighboring countries.

“Our exports surpassed $1 billion in eight months since the beginning of this year, which is unprecedented. Situation is improving day by day. There are new facilities at the customs [ports]. Some customs are operating 24 hours a day. Processing has been made easy. Corruption has been stopped,” Haqmal said.

IEA’s budget for this fiscal year is 231 billion afghanis, including 206 billion afghanis for ordinary expenses and 27.9 billion afghanis for development projects. There was however a total 44 billion afghanis deficit.


Over 3,600 boxes of silkworms distributed to Herat farmers this year



(Last Updated On: May 29, 2023)

Herat Directorate of Agriculture and Livestock says more than 3,500 boxes of silkworms have been distributed to farmers this year in Zinda Jan, Injil, Guzara and Pashtun Zarghun districts of the province.

This directorate has said that 80 percent of silk work is done in Zinda Jan district.

“We were able to grow about 3,600 boxes with the help of institutions, about 80 percent of which we have grown in Zinda Jan district,” said Khalil Ahmad, general director of Herat agriculture directorate.

“About 20 percent of silkworms have been grown in Injil, Guzara and Pashtun Zarghun districts, which has had good results and the financial status of the farmers has improved.”

The local officials said most work in the silk industry is done by women.

“Almost 60 percent of the silk industry is done by women,” said Ahmad Shah Qawami, head of the silk workers’ union for Zinda Jan district.

This year, the families who are engaged in raising silkworms hope to have good production, now that the silk season is over and many are working to separate the silk thread.

However, the farmers are not satisfied with this year’s market conditions.

“The silk market is weak this year, it was good last year, it was very advanced,” said a silk worker.

The silk industry in Herat has a history dating back 600 years, and many families have preserved this ancient profession.

Silkworms usually feed on the leaves of mulberry trees, which grow in these regions. The industry also provides a livelihood to hundreds of men and women in the area.

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Afghanistan Embassy in Ashgabat announces appointment of new commercial attache



(Last Updated On: May 27, 2023)

Afghanistan Embassy in Ashgabat on Friday announced that Mohammad Haroon Saeedi has been appointed as the commercial attache of the embassy.

Saeedi was introduced in an event on Thursday that was also attended by traders and investors.

Afghan Minister of Industry and Commerce Nooruddin Azizi, addressing the event via a digital link, said that the new appointment is a major step in boosting regional cooperation.

He said that the IEA will continue to support the private sector to increase the level of exports.

Afghan Ambassador Fazl Mohammad Sabir also highlighted the role of traders and investors in expanding economic relations between Afghanistan and Turkmenistan.

He notified the traders about the investment opportunities in the Afghan state-owned companies.

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120 Chinese companies held investment talks with IEA since takeover



(Last Updated On: May 26, 2023)

A Chinese entrepreneur in Kabul has said that representatives of 120 large Chinese companies have held talks with the officials of the Islamic Emirate of Afghanistan (IEA) about the possibility of investment in the country.

Yu Minghui acknowledged that the conditions for investment are more favorable now in Afghanistan and Chinese companies are interested to invest in the country.

He added that in the future, representatives of other companies will also visit Afghanistan for investment.

“Currently, the investment and economic activities are more favorable in Afghanistan than ever before, and next week representatives of 40 Chinese manufacturing companies will come to Afghanistan and assess the market here,” Yu said.

The Ministry of Industry and Commerce said that this year they will further facilitate domestic and foreign investment. The ministry said that they have provided more facilities in the areas of mining, agriculture, transportation and electricity production.

Abdulsalam Javad Akhundzada, the spokesman of the Ministry of Industry and Commerce, said that they have also facilitated rules to attract investment.

China has invested $2 billion in Afghanistan since the IEA takeover. China has won the largest contracts in Afghanistan’s mining sector over the past than two decades. Currently, the Mes Aynak Logar copper contract and the Amu Darya oil field contract are with Chinese companies.

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