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Prices of essential items, gold remain unchanged in Kabul

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KABUL: The prices of essential items and gold have remained unchanged during the outgoing week in capital Kabul, market sources said. Abdul Hadi, a worker at Wazirabad fuel station in Kabul, told Pajhwok Afghan News that one liter of petrol cost 50 afghanis and the same quantity of diesel 45 Afghanis. Ahmad Javid, a liquefied gas seller in Taimani area ... Read More »

WB supports Afghan raisin processing plant

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KABUL: Two members of the World Bank Group are providing $3 million in financing and $7.8 million in political risk insurance coverage for a new raisin processing plant in Afghanistan. Support from IFC and MIGA would help develop the country’s raisin market and boost its agribusiness sector, the World Bank hoped in a press statement. Agriculture is a key part ... Read More »

IMF Approved $6.4M Disbursement for Afghanistan under ECF

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The Executive Board of the International Monetary Fund (IMF) completed the third review of the arrangement under the Extended Credit Facility (ECF) for Afghanistan. The ECF is a lending arrangement that provides sustained program engagement over the medium to long term in case of protracted balance of payments problems. The completion enables the release of SDR 4.5 million (about $6.4 ... Read More »

First Islamic Bank In Afghanistan Opens For Business

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KABUL: The IBA was previously known as Bakhtar Bank and operated under a conventional banking license since it was acquired by Azizi Bank in 2009. The central bank, Da Afghanistan Bank, granted IBA an Islamic Banking license on April 9 after it completed the conversion of its balance sheet, said Faizan Ahmed, chief financial officer and member of the IBA management ... Read More »

Government Officials Attend Sustainable Development Goals Workshop in Jalalabad

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Over 30 government officials from the eastern Afghan provinces of Kunar, Laghman, Nuristan and Nangarhar attended a two-day multi-stakeholder Sustainable Development Goals (SDGs) on Agriculture and Natural Resources Management workshop from 14 to 15 May 2018 in Jalalabad, the provincial capital of Nangarhar province. Officials from the Food and Agriculture Organization of the United Nations (FAO), the World Food Program ... Read More »

Afghanistan-Pakistan to resolve transit, trade problems

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An agreement was signed between Afghan and Pakistani officials to resolve problems regarding transit and trade between the two countries, the Afghan Ministry of Commerce and Industries said on Sunday. “Pakistani officials have agreed to reduce tariffs on Afghan fruit and vegetables. They will also allow the export of Afghan cotton to Pakistan”, Tolo News quoted Ministry of Commerce and ... Read More »

ADB Assesses Renewable Energy Projects in Afghanistan

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KABUL: Team of experts is to investigate solar energy solutions to generate electricity in the country. The Asian Development Bank (ADB) is assessing the construction of major renewable energy projects in Afghanistan. ADB experts have said Afghanistan has a major capacity in terms of production of renewable energy and it will help the country to generate electricity from its domestic ... Read More »

Afghan interpreters’ UK immigration fee waived

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Afghan interpreters who served with British troops fighting against the Taliban will be able to stay in the UK for free, the home secretary has said. More than 150 Afghans given five-year residency permits said they faced being sent back to Afghanistan when they expire, unless they paid £2,389 to apply for indefinite leave to remain. Sajid Javid said the ... Read More »

Afghanistan Exports to Iran Go Down Imports up

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KABUL: Iran’s exports to Afghanistan have gone up by more than 21 percent in terms of tonnage and 13.57 percent in year-on-year value, a media report said on Monday. The neighbouring country exported 5.91 million tonnes of commodities worth $2.79 billion to Afghanistan last year, the Financial Times reported. Pharmaceuticals, low-density oil, related products, hydrocarbons and apples were the main ... Read More »

Suicide attack on Afghan voter registration center kills 31

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KABUL: At least 31 people were killed and more than 50 wounded by a suicide bombing at a voter registration center in Kabul, Afghanistan, on Sunday. The Islamic State claimed responsibility for the attack, which targeted would-be voters lining up to receive ID cards for a parliamentary election scheduled for October. “There were women, children,” said Bashir Ahmad, who was nearby when the bomb exploded. “Everyone ... Read More »

Afghanistan cut its duty on flour and wheat imports from Kazakhstan

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KABUL: According to the Ag Ministry of Kazakhstan, the country made Uzbekistan reduce a prohibitive excise tax on Kazakh flour from 15% in 2011 to 0% as of September 1, 2017. In addition, the Ag Ministry of Kazakhstan reports that Afghanistan cut the import duty on Kazakh wheat and flour to 5% in April 2018. Moreover, the wheat import duty ... Read More »

Afghans make long trek west before Turkey secures border

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KABUL: Mazar-e-Sharif in northern Afghanistan, Rasulbek plans to try to earn some money in eastern Turkey before heading further west to Istanbul in sarch of a job to support his family back home. The number of Afghans arriving in Turkey tripled in the first three months of the year to 27,000, driven by conflict and poverty and fears that the ... Read More »

Afghan Finance Minister briefs Lower House on national revenue

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KABUL: Afghan Finance Minister Eklil Hakimi and Deputy Finance Minister Karim Baz provided information on the national revenue and other activities and achievements of the ministry to the Wolesi Jirga or the Lower House of the parliament. Hakimi highlighted the achievements of High Economic Council, expenditure of development budget and also provided information on national programs, multi-purpose dams and reforms ... Read More »

Afghan artisans pit their talents against Chinese imports

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KABUL: Afghanistan’s north as consumers turn to affordable, mass-produced fabrics – but in Kabul a small, determined fashion house is fighting to preserve the traditional textiles once integral to Afghan culture. Launched in 2006, ‘Zarif’ – ‘precious’ in Persian – commissions traditional cotton and silk from artisanal weavers, then employs more than two dozen people – mostly women – to ... Read More »

Private sector investment needed to support growth in Afghanistan

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KABUL: Afghanistan’s economy is forecast to moderate to 2.5% growth in 2018 and 2019 due to the challenging security and political situations in the country, says a new Asian Development Bank (ADB) report. The government needs to attract higher levels of private investment to help boost economic growth, create more jobs, and reduce the country’s dependence on donor support. “Despite ... Read More »

Afghanistan’s Economy Projected to Remain at 2.5% Growth in 2019

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KABUL: Afghanistan’s economy is projected to remain at 2.5 percent growth in 2018 and 2019 due to the challenging security and political situations in the country, a new Asian Development Bank (ADB) report says. In its Asian Development Outlook (ADO) 2018, ADB noted that preliminary gross domestic product (GDP) growth for Afghanistan in 2017 was 2.5%, up only slightly from ... Read More »

Uzbekistan cuts electricity tariffs for Afghanistan

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KABUL: Uzbekistan’s special envoy to Afghanistan in his meeting with the president of the Islamic Republic of Afghanistan pledged to reduce the current 8.5 cents electricity price to 5 cents and the new prices will come in to effect from July,” the presidential palace said in a statement on Monday. According to the statement, another 1,000 megawatts of power will ... Read More »

Iran biggest trade partner of Afghanistan in 2017-18

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KABUL: Afghanistan’s Chamber of Commerce and Industries said Iran was Afghanistan’s biggest trade partner in the last solar year (March 2017-18) and exported goods worth over $1.98 billion to the neighboring country. ACCI said trade volume was $1.2 billion between Afghanistan and Pakistan and $1 billion with China in the same period. “Now Iran is our biggest (trade) partner,” ACCI ... Read More »

Afghanistan is moving from stabilization to growth

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KABUL: An economic transformation is taking place in Afghanistan right now, with a goal to boost private investment to create jobs and sustainable industries. During the past few months, the government has passed significant economic legislation, opened up opportunities across new sectors and cut bureaucratic red tape to encourage businesspersons to invest. The investor’s rights were not protected by legislation, ... Read More »

DEA busts multi m dollar Afghanistan heroin smuggling ring

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KABUL: Two men have been convicted of charges related to what authorities call a large-scale conspiracy to smuggle heroin from Afghanistan into the United States. One of the defendants, Shamsuddin Dost, reportedly bragged to an undercover federal agent during a meeting in San Jose that he had friends in the Taliban and Afghanistan’s government, and said he was willing to ... Read More »