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Cabinet OKs incentives-laden industrial policy

Business & Economics

ډاکټر انوار الحق احدي

Cabinet OKs incentives-laden industrial policy

Oct 20, 2012 - 19:42

KABULinfo-icon (PANinfo-icon): The Cabinet on Saturday approved a new industrial policy, encouraging the growth of the manufacturing sector and offering industrialists loans on soft terms.

Flanked by several industrialists, Minister of Commerce and industries Dr. Anwarul Haq Ahadi told a news conference the policy had been prepared based on the country’s needs.

Under the policy, the government would hike the import duty on the items that were also manufactured domestically, the minister said, hoping the measure would encourage the people to purchase Afghan products.  

He asked industrialists to focus on boosting their businesses and meeting domestic demand by exploiting the increased duties on imports over the next few years.

The ministry had proposed the creation of a fund for extending loans to industrialists, Ahadi said, announcing the government’s acceptance of the request. An eight percent mark-up will be charged, compared to the 18 percent that was previously paid by loanees.

Ahadi said the government was yet to take a decision on another important demand of entrepreneurs that they should be given a tax holiday till their industries became self-sustaining. 

Also present on the occasion was the Afghanistaninfo-icon Industrialists’ Association chief, who hailed the new policy as a welcome step toward promoting industrial units in the country.

Speaking exclusively to Pajhwok Afghan News, Abdul Jabbar Safi acknowledged the concessions. He hoped the authorities would implement the policy in letter and spirit.

Ahadi also announced the distribution of land plots to Afghan entrepreneurs at the Chahbahar port in Iran, where they would store their imports before transporting them into the landlocked country.

The Iranian government, which has earmarked 50 hectares of land for the purpose, will charge 25 afs per square metre annually. The lease rate would remain unchanged for a decade, the minister said.


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