AFGHANISTAN

Construction companies call for govt, foreign community to pay their debts

Afghanistan’s Construction Union has called on the Islamic Emirate of Afghanistan (IEA) and the international community to pay the money owed to them for projects already worked on.
Union officials called a press conference in Kabul on Tuesday to address the issue of non-payment and said that about 2,000 construction companies are owed money for projects carried out for the former government and the international community.
“We don’t have money. People want money from us, because of this [problem] four companies have closed; our sector is facing severe financial pressure,” said Mohammad Nasir Mohtasibzada, the head of the union.
Some members of the union meanwhile called on the IEA to clarify the fate of hundreds of incomplete projects.
They also called for the release of Afghanistan’s frozen assets, which amount to over $9 billion.
“We urge the international community to release the frozen money, in order to put an end to the current economic crisis,” Shams Ur Rehman, a member of the union said.
Ministry of Finance officials meanwhile said that efforts are underway to resolve the problems faced by construction companies.
“We are committed to helping construction companies financially; one we have established a commission to investigate this, second to give money to the private sector,” said Ahmad Wali Haqmal, spokesman for the Ministry of Finance.
Economic analysts say that the Ministry of Finance and international donors should resolve the problems within the private sector, adding that if this is not done, construction companies will be forced to close and an economic collapse will occur.
“The Islamic Emirate should work to prevent the collapse of the private sector,” said Abdul Bashir Sharifi, one economic analyst.
According to analysts, the IEA should also start working closely with the private sector, and monitor the implementation of big projects.The post Construction companies call for govt, foreign community to pay their debts first appeared on Ariana News.

Source: Ariana News

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