29 March 2017

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Economic

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
 

Tuesday, February 28, 2017
Kabul (BNA) The Government of Japan would support farmers and communities to better access markets and enhance the agricultural value chains through its $8.77 million grant in western Heart province, a joint media release from the Japanese embassy said on Monday.
The signing ceremony in Kabul today marked the commencement of the Project which could benefit more than 300,000 Afghan people.
The Exchange of Notes and the project document titled “Project for Improvement of Agricultural Value Chain in Herat” were signed at the Embassy of Japan in the Islamic Republic of Afghanistan by Kenji Enoshita, Charge d’Affaires ad interim of Embassy of Japan to Afghanistan and Dr. Mohammad Haider Reza, Director a.i. United Nations Office for Project Services (UNOPS) Afghanistan Operational Hub.
UNOPS would implement the Project in close collaboration with Afghanistan’s Ministry of Economy, Office of the Governor of Herat, Herat Economy Department and PDC Secretariat, and in partnership with the Government of Japan.
The ceremony was attended by representatives from the Government of Afghanistan, including: Mohammad Ismail Rahimi, Deputy Minister of Economy; Naeem Bahir, Director for Administration and Finance from the Office of the Governor of Herat, and Rahnaward, Director of Economy Department and PDC Secretariat.
Dr. Mohammad Haider Reza, UNOPS Afghanistan Director a.i. said: “This project is very important for farmers and the people of Herat and for Afghanistan economy and its people as a whole. The project will enable the farmers to have easy access to markets and to store their products according to accepted standards until they find their ways to other parts of the country. UNOPS is pleased to work closely with the Ministry of Economy and the Government of Japan on this innovative and critical development partnership.”
While Deputy Minister of Economy stated that: “The Ministry of Economy of the Islamic Republic of Afghanistan wishes to acknowledge the initiation of a project to support economic and agricultural development in Herat. In partnership with the Japanese Government, the project aims to enhance agricultural based livelihoods through strengthening agricultural value chains. The rehabilitation of roads, markets and export centered infrastructure will boost Herat’s profile as a major contributor to the western regions’ domestic produce and export output. The project is a multi-stakeholder engagement involving Government, Office of the Governor, Key Provincial line departments, the Government of Japan and UNOPS.”
Charge d’Affaires ad interim of Embassy of Japan to Afghanistan, Kenji Enoshita, said that by finding new markets for the agricultural products of this country, they could not only feed the local population but also bring wealth to the entire Afghan nation as well as to the villages where they were produced.
Fortunately, Afghanistan was very rich in horticulture products, such as almonds, pomegranates, pistachios, raisins, apricots and saffron, to name just a few. Afghanistan could promote its high-quality agricultural products to the world by improving or formulating the agricultural value chain, just as it was done before the wars.
Due for completion in March 2019, two of the city’s largest produce markets in Herat will be rehabilitated, in addition to the construction of a cool storage facility, agricultural exhibition and training facility, community bazaar in Injil District of Herat. In addition, two important access roads, totaling 6.5KM will be converted to asphalt to improve access to key markets and reduce congestion.
Once completed, it is being expected that local producers/farmers’ income would be increased and approximately 360,000 road users to have better access to the markets and the city.   
In addition to the rehabilitation and construction of the facilities in Herat, the $8.77 million project would also fund a capacity building training for 300 farmers and government officials in Herat in order to enhance their capacity to maintain the facilities afterwards.
Japan has been assisting Afghanistan’s nation-building efforts in various fields including security, education, health, culture, humanitarian assistance, agriculture, infrastructure and capacity development amounting to $6.2 billion.

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