17 November 2018

RSS Facebook

Ads

Economic

Thursday September 13, 2018

Kabul (BNA) The Afghanistan government has brought on board India's utility major Tata Power NSE -0.60 % for distribution, transmission and generation of power in the war-ravaged South-Asian country. The Afghanistan government-run power distribution firm, Da Afghanistan Bresha Sherkat (DABS), Wednesday signed a memorandum of understanding (MoU) during the second India-Afghanistan International Trade and Investment show. The four-day event, which kick started Wednesday, is aimed at bolstering trade besides showcasing business and investment opportunities in Afghanistan. Tata power is looking to tap "huge" opportunities in Afghanistan, where only 35 per cent of the people have access to electricity, said Praveer Sinha, chief executive officer and managing director, Tata Power. "When we look at the power sector and how we can play a role in Afghanistan, we see huge opportunity. The country unfortunately does not have universal access of power as just about 35 per cent of the people have access to power and that also in the four main cities," said Sinha. That is an area Tata Power would like to work very closely with the state-government power Distribution Company as well as local entrepreneurs, he added. He noted that Afghanistan has huge natural resources NSE 0.00 %, which have the potential to make it a net power exporter. The rivers in Afghanistan have the potential to produce 20,000-25,000 MW of electricity on a conservative estimate, according to Sinha. Also, Afghanistan has the potential to produce around 200 GW of power from solar energy besides another 66 GW of from wind energy, he added. "(Therefore) when we look at Afghanistan in the next few years, it will be net exporter of power," said Sinha.
Economictimes
 

Tuesday, September 11, 2018

Kabul (BNA) China and Pakistan have decided to speed up and extend the $50 billion China-Pakistan Economic Corridor towards Afghanistan during Chinese Foreign Minister Wang Yi’s recent visit to Islamabad, the Chinese foreign ministry said on Monday.
Wang designated as China’s top diplomat as he is also the State-Councilor a higher rank in the Chinese political hierarchy visited Pakistan from 7 to 9 September and held talks with the new government headed by cricketer turned politician Imran Khan.
His visit was mainly aimed at exchanging views with the new government and compare notes with Pakistan on cooperation in all areas, thus making “our bilateral cooperation to get off under the new circumstances”, Chinese foreign ministry spokesman Geng Shuang told media briefing.
“The two sides will advance the CPEC in the light of Pakistan’s economic and social development and people’s needs.  “We will identify the pathways and cooperation for the CPEC, we will accelerate the industrial cooperation and the projects of the people’s livelihoods and extend the CPEC to the western area and make the people gets benefit from it,” Geng said.
While Geng has not elaborated on the extension of the CPEC towards the “west”, Wang in April announced plans to extend it towards Afghanistan during the first trilateral foreign ministers’ meeting.
The new government of Pakistan said it will regard its ties with China as a cornerstone of its foreign policy.  China will regard Pakistan as a priority in the neighborhood diplomacy, he added.
 

Monday, September 10, 2018

Kabul (BNA) Based on Union of money exchangers in Sari Shahzada, Kabul city, the exchange rate of Afghani as a follow:
                                                                           
One Dollar                                                              74/30       Afs
One Pound Sterling                                            94/70       Afs
One Euro                                                            85/50      Afs
One Emirate’s Dirham                                       20/10       Afs
One Thousand Pakistani Rupees                           582       Afs
One Thousand Indian Rupees                              1045       Afs
One Thousand Iranian Rupees                            6/50       Afs
T. Yarzada
 

Wednesday, September 05, 2018

Kabul (BNA) US. Agency for International Development (USAID) Mission Director Herbie Smith and Minister of Agriculture, Irrigation and Livestock (MAIL) Naseer Ahmad Durrani launched two new value chain projects to improve Afghanistan’s agricultural sector here yesterday.
The main objectives of the programs are to drive job creation and increase rural incomes through support to key actors along the livestock and high value crops value chains, a statement from the USAID said, adding these programs will generate revenue and sustainable jobs, to increase the capacity of key value chain business, and to facilitate the ability of businesses to sell high quality products both domestically and internationally.
“The U.S. government is committed to supporting Afghanistan by promoting market-driven, private sector-led economic growth,” Mission Director Herbie Smith said, as quoted in the statement.
The two programs announced yesterday, Afghanistan Value Chains Livestock and Afghanistan Value Chains High Value Crops, will focus on increasing the productivity and competitiveness of key businesses in the market centers of Kabul, Herat, Mazar-e-Sharif, Jalalabad, and Kandahar.  Individually, the programs are anticipated to increase productivity in their target value chains by more than 30 present over the next five year.  Together, they will support Afghan enterprises in engaging in $140 million in additional sales, and catalyze an additional $65 million in agricultural investments, the statement added.