23 September 2019

RSS Facebook

Ads

Economic

Saturday, April 19, 2014
Kabul (BNA) Based on Najibullah Akhtari’ head of currency exchange market in Kabul (Saraye Shahzada) report the exchange rate of Afghani as a follow:
                                            Buying                                        selling
One Dollar                          57/05 afgs                                  57/10afgs
One Pound sterling             94/40 afgs                                 94/50afgs
One Euro                            78/50afgs                                  79/60 afgs
One Emirate’s Dirham       15/45 afgs                                   15/50 afgs
One Thousand Indian Rupees 930 afgs                                   940 afgs
One Thousand Pakistani Rupees 571 afgs                                572afgs
One Thousand Iranian Riyals   18afgs                                   18/10 afgs

Saturday April 19, 2014
Kabul (BNA) The decision of last meeting of Council of Ministers based on reactivation Herat Textile Mill can be a step towards supporting national industries and referring to domestic products.
The last Monday meeting of Council of Ministers discussed on reactivation of Herat Textile Mill and the council tasked few government institutions to take practical steps in the connection.
This measure of Council of Ministers was adopted in a time that Afghanistan is known as consuming country in the region and even the cheapest commodities that its production possibility is available inside the country, is imported from abroad. This measure can be regarded as a step taken towards rehabilitation of industries and self-sufficiency of Afghanistan.
Today, this country is the market of Pakistan products that varieties of cloth are imported from that country to Afghanistan while during few decades back the latter had most possibilities for production of cloth. Existences of several textile mills were removing the requirements of this country in some extent. But now, only the Pul-i-Khumri textile mill is active that its capacity is production of 100000 meters cloths round the clock. Now, its production is in its lowest level and daily, estimates to 600 meters cloth.
Likewise, Gulbahar Textile Mill that was the largest factory in the country is inactive because of electricity shortage and the in-charges concerned didn’t succeed to keep it active. If we focus our attention towards the previous activities of few textile mills in the country, our people with expressing much pleasure were using their domestic products. Additionally, the activation of these factories provided employment for a great number of unemployed and more families were promoting their life through these factories.
No double. Reactivation of Herat Textile Mill besides providing means of subsistence for a number of our compatriots, the employment opportunity would also be provided for few numbers of unemployed. Reactivation of Herat Textile Mill and such others, would focus the attention of domestic capital holders towards this point that support from capital holders and domestic products is not only a slogan, but it is implemented in action and government supports capital holders previously, the government has proclaimed that people and government both should prefer using of domestic products. The people of Afghanistan regard reactivation of Herat Textile Mill as a good omen and believe that this move would cause support from capital holders that work honestly. It world also would open the way for reactivation of those factories which are stopping their production or damaged because of incidents and developments occurred during recent three decades.

Wednesday, April 16, 2014
Kandahar (BNA) Afghan Custom Department (ACD) is the second largest revenue contributor to the National Budget, contributes 45 - 48 % to the national revenue of the country in the last couple of years. In addition to the revenue collection and importance, Afghan Customs Department has a critical role in security, border management, trade facilitation, safety and protection of the Afghan society. 
In the first quarter of FY 1393, Afghan Customs Department (ACD) collected import-stage revenue worth over 10.6 billion AFN which shows 3.3% reduction compared to the same period of the previous Fiscal Year. It is well understood that Custom revenue has a negative linear correlation with the trade volume which means, when trade shrinks, Customs revenue gets affected. This decline in revenue was a result of decline in imports by 5.5 %, which is mainly contributed by high tariff goods like vehicles (-55%), electronics and communication equipment (-65%), fuel (-9%) and cigarettes (-27%). Also the number of import declarations in this quarter was 15,000 less than that of the same quarter in previous FY. Despite enhancing the customs efficiency by 21% in first quarter.
Besides, the estimates suggest if the imports had equaled last FY, ACD would have collected around 25% more import-stage revenue than that of the same quarter, last FY. In addition, during the first quarter, the average tariff on imported goods went down from 6.7 % to 6.5 % which also indicates that the import of high tariff goods decreased during this period due to the overall political - economy situation of the country. From the above explanation, it can be drawn that despite declining trends in imports the revenue continued to increase and that shows improvement in the customs performances.
Despite of security and all these challenges, in the last year, ACD has introduced fundamental measures on automation of custom clearance, legitimate trade facilitation, streamlining of procedures, development of the infrastructure facilities, improvement of compliance and implementation of risk management and border management model. It was a revolutionary year for automation of custom procedures by introducing ASYCUDA World and development of new modules like EN-EX Module, Valuation Module and Risk Management Module etc. with the aim to avoid human intervention in customs operations.
So, ACD rejects all the baseless allegation which are recently been made about the operation of customs and ACD is very committed to work with all other relevant partners and stakeholders of the Islamic Republic of Afghanistan to move toward trade and transit development, strengthening of compliance and financial sustainability of the Government.

Wednesday April 16, 2014
Kabul (BNA) Representative from Afghanistan, Tajikistan and Turkmenistan discussed key issues on extension and development of railway and called the project key and vital for easing trade and transit among the three neighbors.
The project, which is expected to be funded by Asian Development Bank (ADB) and conducted by a Canadian Construction Company could also play key role in strategic, economic and political spheres for the three nations, authorities of the Ministry of Public Works said adding the project would be completed by the end of this year (Afghan calendar, 1993) three months after 2014.
The project, after completed would further ease trade and transit for the three countries they said quoting Tajikistan and Turkmenistan to have promised to build key parts of the project inside the country’s northern Balkh province where the railway is expected to cross from Hairatan, Shirkhan and Aqina ports.
Meanwhile, the Afghan neighbors who are committed to accelerate the project called it a great economic scheme and hoped the work on extension of the railway could be started soon.
Under the agreement of the three countries officials, the work on the project is expected to be extended from Ata Murad area of Turkmenistan and crossing Imam Nazar nearby the Afghan border and Aqina and Andkhoy to northern Kundoz province and from Shirkhan Port to Tajikistan.
But, the authorities said in order to reduce the cost the railway is expected to be extended from Balkh to Tajikistan. Experts also believe the project can play key economic, strategic and political role for the three countries and said some other countries such as China and Kyrgyzstan would take part in the reconstruction process. The railway project if completed would provide full ease in the fields of trade and transit for the three countries and bring a big positive economic change for Afghanistan.
It would establish a corridor of trade and transit in the central Asia and shorten the way of the regional countries to the Indian sea. The people are also fully interested to see the country with railway as a Kabul citizen, Marwah said this was one of her desire to see such a development project conducted in the country, with high economic interests. She said the project if completed would tighten ties between Afghanistan and other central Asian nations. She added, thousands of people would get employment one the great project was kicked off in the country. Among the regional nations, Afghanistan has only 75 km of extended railway, prompting the three countries’ authorities to agree on creation of railway on June last year.