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Power will be cut off : Breshna warns

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(Last Updated On: October 25, 2022)

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Officials in Breshna power company have warned for those Governmental institutions which are indebted not paying the electricity bills, electricity will be cut off, saying the following institution owe about $2 billion dollar.

Economical experts have believed that if the loans don’t get paid in time, the following company will be defalcated.

Head of the public relationship department Waheedullah Tauhidi said,” Governmental and local power full figures owe millions of dollars from electricity bills which haven’t been paid, though part of the money has been paid, the Governmental institutions have yet to pay their bills.”

Economy expert Basheer Basheeri said,” Government of Afghanistan should cooperate with the following company, and have the loans paid, otherwise Breshna Power Company will refracted.”

At the end officials in Breshna Power company stated that we will continue to provide electricity for the Afghan Nation according to our development plans, but still demand the loans to be paid.

Reported by Nabila Hafizi

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Central Bank’s supreme council members meet

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(Last Updated On: December 7, 2022)

Shah Mohammad Mehrabi, a board member of the Swiss-based Afghan Fund is attending a two-day meeting of the Supreme Council of Da Afghanistan Bank (DAB).

The meeting got underway on Tuesday and members will discuss a range of issues, including the performance of the central bank, the implementation of planned programs, the economic situation, the implementation of the monetary policy, strengthening of the banking sector and financial stability.

Digitization of payments and the creation of baking facilities are also being discussed, the bank said in a statement.

“Devising proper monetary policies, strengthening of banking sector, economic development, administrative and other issues will be discussed and decisions will be taken,” said Hasibullah Noori, a spokesman for DAB.

Economic experts suggest that the central bank should increase engagement with international financial institutions, in addition to improving banking facilities.

DAB Supreme Council holds four meetings annually to discuss the bank’s policies and performance.

It is the first such meeting after the board of Swiss-based Afghan Fund met last month.

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Afghan Fund trustee Mehrabi to attend DAB meeting

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(Last Updated On: December 5, 2022)

The Supreme Council of Da Afghanistan Bank will hold a two-day meeting in Kabul, and Shah Mohammad Mehrabi, a board member of the Swiss-based trust fund, is expected to attend the meeting.

Afghan central bank officials say the meeting is set to kick off within the next two days, and aims to resolve banking issues.

Afghanistan’s frozen assets are expected to be discussed in the meeting.

“It (Mehrabi’s participation) would mean empowering Afghanistan authorities. It would also suggest semi-recognition. I think it will be a very good visit, because he has lobbied a lot… a direct relation will be established between the US and Afghanistan authorities,” said Sayed Massoud, an economic expert.

“Unless Afghanistan’s assets are handed over to Da Afghanistan Bank, we cannot call it good news. The money they have kept in the fund is for non-monetary purposes which is never acceptable to Afghanistan. It would affect the value of Afghani currency and the economic condition,” said Lal Zazai, an economic expert.

The meeting comes two weeks after the board of the Swiss-based trust fund managing $3.5 billion in frozen assets held its first meeting.

Anwar-ul-haq Ahadi, one of the board members, in an interview with Ariana News, recently suggested that the assets could also be used to provide liquidity to the banking system in Afghanistan.

“We want to reach an understanding in this regard with the central bank and the finance ministry,” Ahadi said.

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Afghanistan open to Indian investment: IEA

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(Last Updated On: December 5, 2022)

The Islamic Emirate of Afghanistan’s (IEA) minister of urban development Hamdullah Nomani met with India’s Charge d’Affaires to Kabul Bharat Kumar recently and said the country needs India to help rebuild and sustain its infrastructure.

Speaking to The Hindu on Sunday, Shaheen said Nomani told Kumar that “Afghanistan is open for Indian investment including urban infrastructure (projects).”

Several Indian companies were involved in building and maintaining numerous projects in Afghanistan over the years. However, teams located in Afghanistan, were evacuated in August last year when the IEA came into power.

Indian companies had left numerous projects incomplete but according to Shaheen, “they are the projects started by India during the past regime, but left incomplete. India can resume work on them or make investments in new projects.”

The Hindu reported that the relation between the Taliban administration and India has remained undefined although a team from India was sent back to Kabul a few months ago to reopen the embassy.

Shaheen, however, assured the Indian envoy of a peaceful working environment for Indian companies and said: “Security of Indians is our responsibility and we assure them [of it].”

Over the last two decades, Indian public and private sector entities invested around $3 billion in mainly the infrastructure sector of the country.

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