26 April 2018

RSS Facebook

Ads

Economic

Saturday, May 19, 2012
Kabul (BNA)  A Canadian firm world ascertain the level of oil reserves in areas between the Aqina dry port and Andkhoi district in northern Faryab province over the next three months, officials said on Tuesday. 
An agreement to the effect was inked between Minister of Mines Waheedullah Shahrani and John, the head of a Canadian oil exploration company, known as Terasize Limited, in the capital Kabul. 
Under the $6.5 million project, the Canadian firm will search fuel reserves in a 236 square kilometers area in a region believed to be oil-rich, Shahrani told reporters after the signing ceremony. 
He said Terasize Limited would initiate work on the project, using sophisticated 2D technology to drill 7,000 deep meters into the earth. 
The process will be completed in three months. The bidding process to extract oil in the area would be set in motion after the level of oil reserves was ascertained, according to Shahrani, who revealed the same company had completed the exploration of oil and gas in the Afghan Tajik basin. 
The US-fund project cost $12.5 million and its result will be announced after the mining expert’s assessment. 
Happy with the award of the contract to his company, John said they had years of experience of oil exploration in Sudan and other countries. 
A recent survey of Afghanistan’s mineral resources revealed that 30 percent of Afghan territory has mineral wealth worth more than three trillion US dollars.  But extraction work in the country is yet to begin.
 

Monday, May 07, 2012
Kabul (BNA) In order to prevent its economic growth after completion of security transition, Afghanistan has its solution that would reduce its negative impacts. 
Usage of the mines, building of railways and power plants and extension of gas and pipeline are positive measures that would affect economic growth. 
Mohammad Mustafa Mastur, deputy finance minister told media that the World Bank concerns pertaining Afghanistan’s economic growth in 2014 will reduce almost 4% is not justified as we have already adopted measures that would considerably reduce negative effects on our economy. 
Mastur added that I assure my people that economic growth at present and in future will not be that much to raise concern. 
Abdul Rauf Zia spokesperson of the World Bank in Afghanistan in his recent press conference told the  media that Afghanistan’s economic growth after 2014 will reduce and the World Bank is committed to its continued assistance to Afghanistan and annually from USD 150 million to USD200 million will be assisted to Afghanistan. 
This decision has been taken on the basis of new policy of the World Bank for the coming three years. 
The WB argues that domestic sources, economic growth and creation of job opportunities are best options for international community aid that would be reduced after withdrawal of the foreign troops. 
However, Mustafa Mastur said that presently we are working on a proposal so we can reach the economic growth reduction to its least percentage after 2104. 
He reiterated the WB in the second Bonn Conference anticipated a limited economic growth for Afghanistan as it has been dependent on foreign aid. 
They said that after 2014 when the security process is complete assistance to Afghanistan will reduce and this will affect its economic growth as well. 
According to Mastur they were concerned over Afghanistan’s economic growth but we are not concerned for if the political and security situation improve in 2014 there is much possibility that assistance of the world community is channeled at its present pace as well. 
On the other hand we were anticipating economic crisis so we have our programs and plan for this and we have five percent growth annually. Mastur compared the growth with the neighboring countries of Pakistan and Iran and says that Pakistan’s economic growth is 2.2% and that of Iran 2.5 and this indicates that we are in a better shape. 
He added that in the past three to six months the maximum value of assistance to Afghanistan enabled us to gain even up to 10% growth. 
During the current year it is anticipated at 7.4% and the ministry of finance feels that even five percent growth is also satisfactory for us. 
Hamidullah Faruqi lecturer of the faculty of economy and economic analyst views that anticipation of the World Bank towards Afghanistan has been optimistic while its threat has not been taken into account and the judgment that economic growth will be between 3 to 4% is threatening new financial crisis. 
He added that the government of Afghanistan should take into account the objective realities and seek new resource sources and make rational use of them. 
As regards limited economic growth of the neighbors said that their growth is based on domestic products and they are stale and changeable but our economy is based and dependent on foreign aid that is vulnerable all the time and this is not a guaranteed economy and can face challenges any time and bear unpleasant repercussions as this is threatened by the insecurity. 
What is stated are based on figures, but it is important that the people of Afghanistan are currently faced with immense economic problems and after 2014 will be more bitter than present and they argue that the government as its obligation towards the people and the international community is morally bound to adopt national measures so the people access to a relative economic condition.
 

Monday, May 07, 2012
Kabul (BNA) President Karzai met with a number of nationwide industrialists union members. 
At the meeting attended by ministers of commerce and industries, energy and water, Sherbaz Kameenzada chairman of the Afghanistan industrialists union, Muhsen Amiri member of the union, Hamidullah Khadem, wife of the chairman of Herat union and Abdul Jabar Safi, deputy chairman of the union and some other industrialists talked about the activities of the union.
Kameenzada told the audience that around 2,000 plants with 96,000 labor are organized within his led union. He added that plants like marble producing, carpets, plastic pipes, printing industry, fruit juices, plastic wares, PVC doors and window making plants, cartoon making, roads building, food processing, sweet producers, biscuits, non alcoholic drinks, salts, lime stone, furniture and other producers are members of this union which are meeting a part of the people’s needs. 
Sayed Muhsen Amiri said in the near future Afghanistan Industrial Conference will be organized to debate problems faced by the producers in Kabul and around 400 companies will display their products. 
Hamidullah Khadim chairman and Abdul Jabar Safi deputy chairman of the union while sharing the problems of the union members asked government support from the country’s industrialists, including allocation of industrial parks and provision of permanent electricity. 
They said that unless domestic industrialists are supported and encouraged important cannot be reduced. They also proposed that the union representatives be allowed at the CM economic committee and AISA. 
Present Karzai told the union members that Afghanistan’s domestic products must be supported and encouraged. 
He asked them to prepare their problems on written basis and deliver to the minister of commerce and industries so that solution is sought for their problems. 
At the end of the meeting the chairman of the union presented a volume of Holy Kyran and a piece of carpet bearing the insignia of the Islamic Republic of Afghanistan as gift to President Karzai.
 


Sunday, May 06, 2012
Trenkot (BNA) 4.5 km road was asphalted in Trenkot city center of Urozgan province and put for public use. 
Amir Mohammad Akhondzada governor of Urozgan province said to BNA, the road funded by Australia at the cost of 2 and half million dollars. 
Governor of Urozgan thanked PRT of Australia for asphalting of this road in that province.
According to him he has planned to launch other projects in Trenkot city. T. Suraya-Yarzada
 

Popular News