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No progress made on business Afghanistan,Pakistan: Ghani

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(Last Updated On: December 9, 2015)

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President Mohammad Ashraf Ghani who has attended the fifth heart of Asia countries conference held in Pakistan on Wednesday acknowledged that no progress is made on mutual transit of Afghanistan and Pakistan since memorandum of understanding has been signed.

President Ghani stated that Afghanistan could play important role on boosting economy in center and south parts of Asia.
During his speech president Ghani has also addressed that there has been no progress made on transit and trade of Afghanistan Pakistan though the memorandum of understanding was signed, saying I have several programs underway, one of them is Afghanistan could access south Asia markets by passing Chabahar port.

Though Afghanistan is committed with Pakistan on boosting economy and trades, there is no movement made from Pakistan President Ghani added.

President Ghani has pointed out on those life time projects which are strengthening our ties with Pakistan but also they will boost the economy of all Asian countries including south part of Asia,the following projects are to be implemented TAPI which is gas pipe line is coming from Turkmenistan and goes to India, the 500 mega watt power, the rail way and the CASA 1000 they are the projects which Afghanistan is playing important role on its transit to neighboring countries.

Further president Ghani has talked about self sufficiency stated that there 9 airports built in Afghanistan which will play important role in boosting economy and the total income of the air ports is 32 $ million annually, Salama water dam which was built by India in Herat will resolve the power shortages for our Nation.

The following speeches of the president come after that heart of Asia countries conference to be held on Thursday tomorrow.

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Saudi Arabia may raise Nov official crude prices for Asia

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(Last Updated On: October 3, 2022)

Top oil exporter Saudi Arabia may raise prices for most crude grades it sells to Asia in November on expectations for demand recovery and Chinese refineries to increase output following the issuance of new product export quotas.

The November official selling prices (OSP) for flagship Arab Light crude may rise by 25 cents a barrel, according to the median of the responses of five refining sources surveyed by Reuters on Sept. 29-30.

“Oil demand is expected to improve, which we can see from current market structure,” said one respondent.

The backwardation in the Dubai market structure widened during trading last month, implying that demand for crude in the near-term is rising. The premium for front-month Dubai over the price for the third-month averaged $5.36 a barrel in September, up from $5.07 in August.

The market also expects China, the world’s biggest crude importer, to increase purchases as Beijing has issued a fresh round of refined product export quotas, totalling 15 million tonnes. That could encourage Chinese refineries to lift their crude buying to ramp up fuel output.

Refining margins for gasoline and diesel plunged on China’s new export quotas as a flood of refined products would knock down the prices of the products.

“That’s a reason why we forecast the official prices for lighter crude grades to only see a small hike,” said another respondent.

The respondents polled by Reuters assess the price increase for Arab Medium and Arab Heavy to be larger than Arab Light, as the refining margins, also known as cracks, for fuel oil are performing better than the light- and middle-distillate products , .

China issued 1.75 million tonnes of export quotas for low-sulphur fuel oil, compared to 13.25 million tonnes for other products in the recent round.

OPEC+ will consider an oil output cut of more than a million barrels per day (bpd) during their monthly meeting this week, in what would be the biggest move yet since the COVID-19 pandemic to address oil market weakness.

Benchmark oil prices have fallen by more than 30% since March.

Saudi crude OSPs are around the fifth of each month, and set the trend for Iranian, Kuwaiti and Iraqi prices, affecting more than 9 million barrels per day (bpd) of crude bound for Asia.

Saudi Aramco sets its crude prices based on recommendations from customers and after calculating the change in the value of its oil over the past month, based on yields and product prices.

Saudi Aramco officials as a matter of policy do not comment on the kingdom’s monthly OSPs.

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Pakistani minister: Promotion of trade, regional peace are priorities

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(Last Updated On: October 3, 2022)

Pakistan’s Federal Minister for Overseas Pakistanis and Human Resource Development Sajid Hussain Turi said on Saturday that promotion of trade and regional peace remain as priorities of his country.

The official said this while visiting Kharlachi near the Durand Line.

Turi said Kurram valley was rich with natural beauty and it was important not only for tourists and historians, but also for international traders as it connected Pakistan with Kabul and Central Asian states by the shortest, easiest and safest routes through Kharlachi and Borki crossings.

The minister said he had taken up the issue of extension of China-Pakistan Economic Corridor project to Kurram with the concerned authorities. He said it would bring peace and prosperity to the region.

He said that road to the crossing would be paved soon while other issues would also be addressed on priority. He said he had taken up with the railway authorities to restore the rail track up to Tall area so that trade at border could be enhanced.

The minister advised the authorities to support local population’s engagement in the cross-border trade and that maximum employment opportunities should be given to them.

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Pomegranate harvest down in Kandahar

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(Last Updated On: October 2, 2022)

Pomegranate production has declined by 10 percent in Afghanistan’s southern Kandahar province, local officials said this week.

Drought and floods are said to be the main reasons behind the decline in pomegranate yield in Kandahar this year.

“We have pomegranate trees covering 10,000 hectares of land. Unfortunately, this year’s harvest saw a 10 percent decrease,” said Shams-ur-Rahman Musa, head of agricultural products at Kandahar agriculture department.

Meanwhile, the provincial chamber of commerce said that they have exported 13,134 tons of pomegranate so far this year.

Abdul Baqi Bina, deputy head of Kandahar Chamber of Commerce, said that pomegranate was also being transported to other provinces of the country.

Local farmers also said that drought and floods affected pomegranate production this year, but added that the demand for the fruit remains high in the market.

“Pomegranate harvest has declined this year due to drought. Hopefully it will increase next year,” said Juma Khan, a farmer in Kandahar.

“I request the Islamic Emirate’s authorities to help provide us with pesticides,” said Abdullah Jan, a farmer in Kandahar.

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