14 August 2018

RSS Facebook

Ads

Economic

Tuesday, August 14, 2018

Kabul (BNA) Sentar and Gomoz private companies would invest multimillion dollars for extraction of gold in Badakhshan and copper in Balkhaab of Sar-i-Pul provinces.
According to a presidential statement, the contracts on these two mines were confirmed after assessments of inter-ministerial committee of Ministries of Mines and Petroleum, Education and Finance.
The statement adds that these two private companies are technically eligible and after signing the contracts financial guarantee will be taken.
Talking to media, spokesman of the MoMP Abdul Qadeer Mutfi said, offering of contracts has taken place in a transparent manner and these two private companies are expected to invest multi-million dollars there and provide employment opportunities for dozens of people.
According to Mutfi, exploration and exploitation contracts of gold mine have been offered to a private Afghan-Turk company for 30 years and totally US$ 70m will be invested in above two stages, but likely the investment would increase according to need.
He added, contract on extraction of Balkhaab copper was given to Afghan Mines and Gold private company for 30 years and US $ 61m would be invested there.
In its website, the Gomoz Co has written that the copper mine in Balkhaab district, Sar-e-Pul province contains an area of about 500 square kilo meters and over 100 million tons of copper.
These two contracts have been offered by the Afghan government while in the past SIGAR had several times reported on illegal mines extraction and corruption in mines contracts. Based on SIGAR report, only in 2015 about 2000 tons of Lapis at a cost of US $ 60m-120m were illegally extracted in Badakhshan.
Beside corruption and improper investment conditions, security threat is another major challenge that have always prevent implementation of mines extraction projects in Afghanistan.
In the last over one and half decade, the Afghan government has held tens mines extraction contracts with domestic and foreign private companies but most of them have been facing legal, technical or economic problems.
At the same time the Afghan experts said that a number of those mines extraction contracts remain on paper due to different reasons or the concerned companies stop operation on mines.
Economist Sher Ali Tazri said a number of these companies consider insecurity as an important reason of stopping work. Insecurity is really an urgent issue.
In my opinion, security measures should be earlier taken on mine extraction sties. Corruption and powerful local individual are other threats.
Shukria Kohistani
 

Tuesday, August 14, 2018

Kabul (BNA) Chief Executive Dr. Abdullah Abdullah in meeting of council of ministers’ economic committee said that cutting telecommunication services in Ghazni would be reviewed.
Pointing to current security situation of the country, the country’s chief executive said number of telecommunication networks have stopped their services in Ghazni, adding that reasons for stopping the telecommunication services in the province would be reviewed by relevant institutions.
Chief executive declared that fresh reinforcements led by army chief of staff and senior deputy minister of security affairs for interior have arrived in Ghazni city and the city would be soon cleared from presence of armed and criminal Taliban.
The country’s chief executive considered Afghan and NATO forces airstrikes as effective, saying that hundreds of armed Taliban fighters have been killed as a result of recent airstrikes.
“Fresh measures that have been adopted by leading body of national unity government will bring serious changes in security situation of Ghazni city,” Dr. Abdullah said.
He instructed relevant institutions to send first aids and foodstuffs to victims of Ghazni incident as soon as possible.
The country’s chief executive asked the people and politicians to give hands to each other and cooperate with ANDSF in rooting out terrorism.
 

Monday August 13, 2018

Kabul (BNA) Based on Union of money exchangers in Sari Shahzada, Kabul city, the exchange rate of Afghani as a follow:
                                                                           
One Dollar                                                          72/60       Afs
One Pound Sterling                                            91/90       Afs
One Euro                                                            82/60       Afs
One Emirate’s Dirham                                       19/70       Afs
One Thousand Pakistani Rupees                           594       Afs
One Thousand Indian Rupees                              1060       Afs
One Thousand Iranian Rupees                            07/10       Afs
M.A.Ansari
 

Monday August 13, 2018

Kabul (BNA) Presided over by President Mohammad Ashraf Ghani, the High Economic Council (HEC) held session on Sunday, BNA reported. During the meeting, the bidding process on Badakhshan gold and Balkhaab copper mines, draft on decreasing tariffs of raw-materials of oil production factories, the draft on promoting solar water heaters in Afghanistan, the draft to solve tax problems of private airline companies, Kabul-Dubai and Dubai-Hong Kong cargo report related to UAE Airline Company, the report on removing restrictions by UAE air aviation administration on Kam Air flights and allowing seven flights every week to Alarabiya Airline Company between Kabul-Sharjah were discussed. At the outset, Presidential senior advisor on financial and banking affairs Ajmal Ahmadi presented the result of inspections made by inter-ministerial committee of ministries for mines, economy and finance on taking Badakhshan gold and Balkhaab copper mines’ contracts by Santar and Gomoz companies. He added these two companies have consecutively shown interest to these projects and they are technically eligible and financially capable to provide the financial fund to develop the mentioned mines. He added the financial guarantee would be received after signing the contract. After comprehensive debates, Badakhshan gold and Balkhaab copper mines contracts delivering to Santar and Gomoz companies were approved. The President said as it was an explorative stage, it should be clarified what is the result of exploration and then financial guarantee should be received. He stressed a specific security mechanism should be arranged to ensure security of the projects. Afterwards, finance ministry customs’ revenue deputy presented the draft to decrease tariffs on oil production factories and suggested that based on cabinet approval, tariffs should be decreased from 5 percent to one percent. After approving the draft, the President said that control mechanisms should be arranged as petroleum raw-materials should be controlled prior to and after refinery. Likewise, head of Da Afghanistan Breshna Sherkat Amanullah Ghalib presented a draft on solar water heaters said implementation of the draft would decrease power consumptions and it would help us supply power to those areas where are facing with lack of power. At the end, head of civil aviation administration Mahmoud Shah Habibi presented a report on UAE Airline Company’s Kabul-Dubai and Hong Kong-Dubai cargo, the report to remove restrictions applied by UAE air aviation on Kam Air flights and allowing seven flights every week between Kabul-Sharjah to Alarabiya Airline Company. While discussing the mentioned report, the meeting clarified that Afghanistan supports launching of cargo, but clarification should be given that how much of sum would Afghanistan earn through that and its details would be discussed in the next HEC meeting.
 

Page 1 of 360