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Ahadi: Soaring food prices linked to afghani's devaluation

Ahadi: Soaring food prices linked to afghani's devaluation

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On
Jul 10, 2011 - 17:25

KABULinfo-icon (PANinfo-icon): Commerce and Industry Minister Anwarul Haq Ahadi on Sunday said that soaring prices of food items were a result of the devaluation of the afghani against other currencies.

Ahadi was summoned to the Wolesi Jirgainfo-icon, the lower house in Afghanistaninfo-icon’s parliament, to brief lawmakers on the increasing cost of food items in the country.

He said the exchange value of a US dollar rose by 5 afghanis in a week, sending rates of food items soaring.

The minister said Afghan traders purchase goods in dollars at foreign markets, and that the devaluation had a direct impact on the price of trade goods.

Ahadi said they had taken up the matter with the central bank, urging the president reduce or remove taxes on food items.

He also said the Ministry of Agricultureinfo-icon and Livestock would provide 30 thousand tonnes of wheat to the market, a move that would reduce rates of food items.

mm/ma/at

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