Wednesday, 15 March 2017

Afghanistan and Germany jointly invest nearly 70,000,000 euro for the establishment of a modern Sukuk printing company, allowing the country to print its own money

The modern Sukuk printing company is expected to be built on 22 acres of land in Jangalak industrial township. Jangalak township was initially built in 1960 and was operating in key fields such as metal production, electronics, packaging of car machines and some other fields. More than 1,500 people were working in Jangalak township. It was Afghanistan’s largest industrial site. But the area has been totally destroyed in decades of war and violence. Afghanistan and Germany will provide 70 million Euro for the establishment of the project. “It will be a joint investment in the project. A modern printing industry will be established on 22 acres of land. It will be equipped with modern technology and be able to print the government’s financial certificates,” said Mohammad Ibrahim Shams, chairman government enterprises. Economic commentators have said the only solution to Afghanistan’s fragile economy and joblessness is that the government establishes new enterprises and swiftly revives old businesses. “If the government is not able to rehabilitate the Jangalak factory site, then it should give it to private sector, but we need to revive it, because it is a major production facility,” Sayed Qias Saeedi, an economist.

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