23 January 2018

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Economic

Thursday January 11, 2018

Kabul (BNA) An internal Pentagon watchdog has released another highly critical audit of a dubious U.S. effort between 2010 and 2014 to foster economic development in Afghanistan.
The temporary program, called the Task Force for Business and Stability Operations, was appropriated $823 million by Congress, of which $675 million was spent on projects, many of which were abandoned of left incomplete, because of “safety concerns, lack of sustainable design, and other problems,” according to a report by the Pentagon’s Office of the Special Inspector General for Afghanistan Reconstruction.
The audit, requested by Judiciary Committee Chairman Sen. Chuck Grassley, R-Iowa, and then-Sen. Kelly Ayotte, R-N.H., also found more than half the money spent went for overhead, not directly on projects in Afghanistan.
“From the start, TFBSO’s goals were at odds with its capabilities, and its role within the U.S. reconstruction effort was unclear,” the audit concluded, adding, the “TFBSO did not have the time, resident expertise, or outside support it needed to do everything it set out to do,”
The report found that program’s administrators were in over their heads from the start, laboring under unrealistic expectations that failed to take into account obvious obstacles for conducting business in Afghanistan including local politics, culture, weather and security.
The result was wasted time, effort and money.
In one example cited by SIGAR auditors, the TFBSO obligated $51 million for up to 12 large-scale mining contracts, but vastly overestimated the speed at which the Ministry of Mines and Petroleum could work as well as resistance from other government ministries.
After repeated delays, the Afghan government refused to sign any of these contracts.
“The DOD Principal Deputy Secretary of Defense for Policy expressed skepticism about whether the TFBSO mission of economic development was a proper role for DOD,” the investigators wrote. “We share this skepticism.”
“The findings of this audit are just another example of the Defense Department’s failure to gets its financial house in order,” Grassley said in a statement. “Congress appropriated $823 million for task force projects. Auditors found rock-solid supporting documentation for $435 million, leaving hundreds of millions of dollars unaccounted for. This careless bookkeeping means American taxpayers may never know what happened to the rest of their money.”
Washingtonexaminer
 

Tuesday, January 09, 2018
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                                               70/40 Afs                           
One Pound Sterling                                 94/40 Afs                           
One Euro                                                84 Afs                           
One Emirate’s Dirham                           19/10 Afs                           
One Thousand Pakistani Rupees              625 Afs                           
One Thousand Indian Rupees                1120 Afs                                         
One Thousand Iranian Rupees              16/30 Afs                           
Yarzada

Tuesday, January 09, 2018

Kabul (BNA) the National Procurement Commission with President Mohammad Ashraf Ghani on the chair held session and approved five contracts worth 2.3 billion Afghanis, a presidential statement said.
According to the statement the contracts were included extending of 220 Kilo Volt electricity line from Dushi to Bamyan province, the project of salary payment through mobile, construction of laboratory for medicine quality in Herat, procurement of fuel to National Directorate of Security’s released organs and purchasing of PBX and CISCO phones to directorate of the chief of staff for the ministry of defense.  Besides to abovementioned contracts, the session also approved amendments of 15 percent to the contract of fuel for maintenance of Salang Pass.  The session rejected the contract for asphalting of 7KM Kabul-Logar highway and decided to shift the contract to Ministry of Public Works.  The session asked the ministry to once again restart the procurement process.  The session was attended by national and international observers, representatives of the lower house budget and economic commission, Afghanistan integrity watch, SIGAR and Resolute Support officials.
 

Monday, January 08, 2018
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                                               70/25 Afs                           
One Pound Sterling                                 94/40 Afs                           
One Euro                                                84/20 Afs                           
One Emirate’s Dirham                           19 Afs                           
One Thousand Pakistani Rupees              624 Afs                           
One Thousand Indian Rupees                1120 Afs                                         
One Thousand Iranian Rupees              16/50 Afs                           
Yarzada

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