KABUL (SW) – Officials of the Association of Afghan Investors and Businesses have renewed the call for their assets to be freed.
Officials of this union, on Sunday, in this protest gathering, said that since two years, the closure of 60 billion afghanis of the capital of nearly 6000 traders with the government and private banks has led to the stagnation of 90% of these companies.
Baz Mohammad Ghairat, the general director of the association, said in this protest meeting that according to the decision of the vice president of the Islamic Emirate cabinet and the decree of the Leader of the Islamic Emirate, out of 100% of the businessmen’s funds with the government and private banks, 10% of it was supposed to be given to the companies in the current year, but the slowness of this process has led to the freezing of funds and the collapse of companies.
He adds: “10% of the money that was supposed to be given to us this year has not been paid yet. If they give us our capital, we will invest in the country with our own hands. On the other hand, human trafficking and capital trafficking have been prevented and the private sector is growing. Private banks invested on our capital abroad, you should attract private banks back to Afghanistan.”
The general director of the union said that up to 10 billion worth of guarantees are currently locked up in private banks.
Noorullah Mubariz, the head of the union, said that the closure of tens of billions of afghanis in the capital of companies and businessmen with the government and private banks has become an obstacle to the country’s economic growth.
He added: “Most of these companies and factories are at a standstill, and some are at a semi-standstill. Our 60 billion afghani remains with the government, it is necessary to create an atmosphere of trust so that we can invest with confidence, and for the investors who have gone abroad, an atmosphere of trust should also be created for them and our money should be released.”
Meanwhile, a number of investors also say that in the past two years, their funds being locked up in private banks and with the government have caused the activities to stop, factories’ equipment to wear out, and their capital to disappear. They want the government to speed up the process of paying at least 10% of their demands.
Mohammad Nasser, a businessman and the head of the union of construction and road construction companies, and Abdullah Faizi, an investor, said that with their money locked up, the economic cycle and national capital have also been paralyzed.
Mohammad Nasser said: “The amount of money demanded by the companies that had worked has not been paid for two years and several months. For example, 70 million afghanis of our money is blocked in a project, billions of afghanis in the capital of this sector are frozen and unused in private banks, and millions of dollars worth of company vehicles are left unused in bad weather and are deteriorating.”
Abdullah Faizi said: “If the money is not paid, the economic cycle is being paralyzed, the intellectual property of the businessman is being destroyed and our possessions and equipment are being destroyed. The unemployment rate has increased.”
However, Ahmadowli Haqmal, the spokesman of the Ministry of Finance, told Salam Watandar that the work on the payment of debts, provisions and guarantees of companies and traders is going on and this process will start soon.
He added: “Based on the decision of the cabinet, the Ministry of Finance has been directed to check the demands, guarantees and supplies of companies to establish this issue in all ministries and to partner with the Ministry of Finance. So far, 121 departments have confirmed their lists and shared and approved them with the Ministry of Finance, and in the coming days, they will be sent to the economic commission and shared with the cabinet for further implementation, and based on their decision, their demands, guarantees and supplies will be paid. »
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