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Afghan Industrialists Union call on presidential candidates to end elections stalemate

in Afghan Business

industriesAfghan Industrialists Union urged the presidential candidates to put an end to the long elections impasse that is taking the country toward a possible economic recession.

The Union head, Sakhi Ahmad Paiman, stressed that the Afghan economy could take a different shape if the government focused more on the industrial sector.

According to Paiman, the national treasury could make USD 5bn in revenue from domestic sources in the next five years if necessary measures were taken to develop the industrial sector.

“The new government’s economic policy should concentrate on the development of the industrial sector to help the country become self-reliant,” said Paiman.

He added domestic productions have fallen by 28% due to the prolong elections process and 32% of the employees working in factories have lost their jobs.

This comes after Afghan Finance Minister Hazrat Omar Zakhilwal announced that the elections deadlock has resulted in the loss of USD 5bn and capital flight of USD 6bn. He warned of a potential economic crisis if the elections fate were not decided upon soon.

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