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Investment shrinks in Balkh amid violence, corruption

AT News

KABUL: Afghanistan Chambers of Commerce and Industries has sounded the alarms of a precipitous decline in business and trade in northern Balkh amid an ever-galloping insurgent violence and rampant administrative corruption.

Trade has plunged by a whopping 80 percent in Balkh, said Arash Younisi, head of the provincial chamber of commerce and industry, warning of tough consequences if the government fails to wide out rampant corruption at the Hairatan port’s custom office. “Traders and businessmen would be halting their commercial activities and deals if this issue is not to be addressed,” he said.

Meanwhile, the Afghan traders have voiced concerns over the government’s failure to facilitate business ties with the neighboring countries during the pandemic coronavirus outbreak, saying that about half of the imports have been halted.

If the government didn’t support the commerce, the traders warned that they would cut down the rest of their investment as well.

But head of the Hairatan custom office, Diyan Fayez denied the allegation of corruption, saying that the government formed a new system to avoid fraudulence in business deal.

The chamber of commerce and industry said that the neighboring countries have provided well-facilities for the traders and that this poses them to drawdown their business in Afghanistan.

According to the chamber of commerce and industry, about 80 percent of the traders have transferred their investments to Kazakhstan, Uzbekistan and Turkey.

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