English | دری

Afghan company suffers millions of dollars of loss

in Afghan Business

Afghan company suffers millions of dollars of loss

contrack internationalThe suicide attack on Monday at the compound of the US-run Contrack International, a foreign military contractor, caused an estimated loss of USD 10mn to an Afghan fruit juice company.

In addition, more than 120 people have been unemployed as the company is shut down.

The Afghan Industries Association officials accused the government for its inattention towards providing security to the industrial park in Kabul.

“The Association has decided to shut all companies if the problems are not considered seriously,” said Association head Abdul Jabar Safi.

Meanwhile, the Afghan Chamber of Commerce and Industries-ACCI Deputy Chief Executive Officer Khan Jan Alokozay expressed his concerned about the future investment situation in Afghanistan.

“How can President Karzai ensure security to foreign investors, if our own industrialist has suffered a USD 10mn loss?” said Mr. Alokozay.

Contrack International, a multi-million dollar company, first opened its offices in Kabul in 2003. The company is a wholly owned subsidiary of Egypt-based Orascom Construction Industries. According to the Orascom website, Contrack is one of the largest contractors operating in Afghanistan, employing over 1,400 staff full-time staff.

Related Articles

Australia is once again ranked as the happiest nation in the world

The Better Life Index compiled by the Organization for Economic Cooperation and Development (OECD) has ranked Australia as the world’s

Afghan landowner dedicates his land for building a school

A local resident from Qala Naw of Badghis Province dedicated 1.5 acres of his land to the Afghan Ministry of

ITC Unveils the Market Price Information Portal for Developing Countries

The International Trade Centre (ITC) today announced the launch of the Market Price Information portal, an online database that will

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*