Advertisment

Afghanistan Unveils Five-year Electricity Sector Development Plan

author-image
BNN Correspondents
New Update
Afghanistan Unveils Five-year Electricity Sector Development Plan

In a recent move, the Ministry of Water and Energy in Afghanistan has put forth a bold five-year development plan for its electricity sector to the Economic Commission of the Islamic Emirate. The plan, as outlined by the economic deputy of the Prime Minister's Office, proposes the launch of 200 electricity generation projects valued at an impressive $3.8 billion over the next five years. Da Afghanistan Breshna Sherkat (DABS), Afghan Gas, and Bayat Power are the key players in a proposed tripartite agreement for electricity generation from natural gas. The agreement is under the microscope, with the ministries of Water and Energy, Justice, and Mines and Petroleum currently examining it.

Advertisment

UNDP's Initiative at COP28

Alongside Afghanistan's energy revamp, the United Nations Development Programme (UNDP) recently unveiled a new initiative at COP28. This initiative aims to aid developing countries in accessing carbon markets, mitigating social and environmental risks, and promoting accurate carbon accounting. The focus is on maintaining the integrity of carbon credit supply, ensuring equity for host countries, and promoting high-quality carbon credits. The initiative builds on UNDP’s previous work in carbon markets and aims to ensure emission reductions and removals are real, have verifiable climate impacts, and are aligned with countries' broader climate action pledges. The initiative will provide technical assistance, support governments on policy and regulatory frameworks, and operationalize high integrity principles into host countries’ decision making and practices for all types of carbon markets.

Taliban's Tax and Revenue Collection

Advertisment

In another development, the Taliban in Afghanistan has found ways to increase taxes and collect revenue to fund its first annual budget, which is projected to have a deficit. The Taliban is relying heavily on tax collection and increased export of natural resources like coal to fund its budget. However, there is a lack of transparency regarding the allocation of the budget and the specific sources of revenue. The new tariffs and taxes imposed by the Taliban have led to increased costs for citizens, affecting their livelihoods and businesses.

Iran and Afghanistan's Trade and Mining Cooperation

Meanwhile, Iran and Afghanistan are exploring enhanced cooperation in trade and mining to boost revenues and counterbalance the economic influence of China within the Afghan market. The two countries are focusing on creating a joint chamber for trade development, utilising railway infrastructure for transportation, and prioritizing policies to promote renewable energy consumption and sustainable urbanization. The collaboration aims to address economic challenges and facilitate sustainable economic growth in the region.

Advertisment
Advertisment