24 March 2017

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Economic

Saturday March 4, 2017

Kabul (BNA) Chaired by Mohammad Ashraf Ghani, President of the Islamic Republic of Afghanistan, the National Procurement Commission (NPC) held meeting at the presidential palace the other day, his office said in a statement.
The National Procurement Commission (NPC) has approved 10 contracts worth four billions afghanis but returned the ring road project in Mehtarlam, the capital of eastern Laghman provinces, the statement further said. The contracts were about construction of a 32-kilometer road in Maimana, the capital of Faryab province, reconstruction of Shashan road in Deh NPC approves 10 contracts worth 4b Afghanis Salah district of Baghlan province and procuring machinery parts of fertilizer factories and the electricity enterprise in Mazar-e-Sharif, the capital of Balkh province, according to the statement. Providing security services to fields of the Hamid Karzai International Airport in Kabul airports in Herat, Mazar-e-Sharif and Kandahar province were other projects approved by the NPC, the statement continued. Procurement office equipment for the state minister of disaster management, allowances to the ministry of defense and administrative office of the president, extension of timeframe for Doshi-Puli Khumri road construction for another four months and amendment to the contract for a power line extension from Naghlo Dam to Tagab district of Faryab province were also approved. Likewise, the NPC returned the Mehtarlam ring rod project for further review. The NPC meeting was attended by second vice president, Sarwar Danesh, Chief Executive, Dr. Abdullah Abdullah, ministers of economy, finance and justice, the NPC and SIGAR officials, lawmakers, senators and some others, the statement concluded.
 

Wednesday March 01, 2017

Kabul (BNA) Based on Khan Mohammad Baz’ head of currency exchangers in Kabul, Shahzada market report the exchange rate of Afghani as a follow:
                                                                        Selling             
One Dollar                                                   67/70 afgs                           
One Pound Sterling                                     83/60 afgs                         
One Euro                                                     71/60 afgs                        
One Emirate’s Dirham                                18/85 afgs                          
One Thousand Pakistani Rupees                   624 afgs                        
One Thousand Indian Rupees                     1015 afgs             
One Thousand Iranian Rupees                   17/55 afgs                       
 

Tuesday, February 28, 2017
Kabul (BNA) Based on Khan Mohammad Baz’ head of currency exchangers in Kabul, Shahzada market report the exchange rate of Afghani as a follow:
                                                                                   
One Dollar                                               67/75 afgs                           
One Pound Sterling                                 84/5 afgs                         
One Euro                                                71/70 afgs                        
One Emirate’s Dirham                           18/45 afgs                          
One Thousand Pakistani Rupees              626 afgs                        
One Thousand Indian Rupees                1020 afgs             
One Thousand Iranian Rupees              17/55 afgs                       

Tuesday February 28, 2017

Kabul (BNA) The situation of Afghanistan markets are chaotic in these days.
High prices of goods and low purchasing power of people have caused stagnation in local bazaars. Overcharging of shopkeepers has restricted living condition of those who have constant income and increased vulnerability of people. Stagnation in bazaars and increase of prices have different reasons and according to officials in charge, the main reason is increase of US dollar price but beside that relations between supplier and customer has important part in this situation. Current relations in Afghanistan have not taken shape based on certain rules as in many cases deceive and fraud replace honesty and commitment. A slight attention to situation of bazaar and general conditions show that the fever of bazaar is more a self-motivated issue that has been created by traders and suppliers. Lack of strict control, legal and ethical standards have left the hands of goods’ suppliers more open and they do whatever they want to our poor people. Therefore we cannot consider increase of good prices in local markets as a natural issue but it is due to traders’ behavior before the people. Attention to situation of bazaars show that Afghanistan has one of the most instable bazaars in the world.
The reason is clear, limited resources, dependence to foreign countries and heavy imports increase pressure on our bazaars. As it has been seen several times that upon closure of roads even for a short time, the commodities prices have suddenly increased and under critical socio-political situations all capacities and resources decrease immediately. Thus the prices with strong jumping in a short time disturb the bazaar. This limited capacity causes elimination of competition among importers in one hand and culminate embezzlement and accumulation of goods for more overcharging on the other that in both cause, such situation paves the way for abusing and further overcharging. A considerable inflation has always existed in Afghanistan domestic markets. Although the government in charges consider it normal but this situation causes concern of citizens and prevent them to harmonize themselves with markets changes. At present increase of taxes on shopkeepers has also because hike of prices and forced them to resort to overcharging. Security challenges appear with different dimensions and figures and causes hike of  prices in  short term and result in immediate hike of prices and in long term and in indirect form causes lack of investment of  domestic and foreign traders. This issue keeps the country in long term in need of external aids which is frankly a heavy blow on our national economy. Corruption is impacting our economy like a dangerous cancer that plays vital role in hike of prices.
Liluma Noori
 

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