By Akhtar M.Nikzad-KABUL: Ministry of Urban Development Affairs (MUDA) laid the foundation stone of Smart City township project here on Wednesday. The township will be built on a 68 jerib land next to Aria Township in Kabul.
Ahmad Zia Massoud, the president’s special representative for reforms and good governance, said that the project will create around 2,500 jobs. “The government will earn $75 million in benefit from the project, he said.
The Minister of Urban Development Affairs, Sayed Sadat Naderi, said that the township will be built on a 68 jerib land within four years. The township will have 40 residential buildings, 4,800 apartments.
The project will be constructed by Khalilullah Ferozi, who is already of Kabul Bank defaulter.
Ferozi was released from prison based on recent decision of the Council of Ministers and a special court. Under the verdict, Ferozi will repay his debts to the government through business dealings. Ferozi owe $138 million from Kabul Bank. He was sentenced to 10-year imprisonment.
Ferozi invested around $98 million in construction of the township.
Ferozi said that he was grateful to the National Unity Government (NUG) for giving him the chance to pay his debts through business dealings. “Based on the decision of the Supreme Court, I owe $138 million from Kabul Bank and I have paid 20 percent of my due so far,” he added. According to the special court’s decision, Ferozi have to pay his debts within next seven years.
“I want to invest in another township in Balkh and have invested $120 million in Gaz Group Company,” he said.
Legal Advisor to President Ashraf Ghani, Abdul Ali Mohammadi, said that the Council of Ministers has devised a new mechanism to recover Kabul Bank’s lost money. “Based on the mechanism, the defaulters will be released from prison to pay their debts through business dealings. The defaulters will still remain bound to the Supreme Court’s sentence,” he added.