Deputy Prime Minister for Economic Affairs Inaugurates Bakht Blanket Manufacturing Factory

Today, November 17, 2024, Mullah Abdul Ghani Baradar Akhund, Deputy Prime Minister for Economic Affairs, inaugurated the Bakht Blanket Manufacturing Factory in the Pul-e-Charkhi Industrial Park in Kabul. The ceremony was also attended by Nooruddin Azizi, Acting Minister of Industry and Commerce, and representatives from the private sector.

Speaking at the event, the Deputy Prime Minister stated that with the establishment of nationwide security and a significant reduction in corruption, Afghanistan now offers a conducive environment for large-scale, medium, and small-scale investments. He emphasized that the Islamic Emirate continues to support domestic industries by implementing effective import substitution policies, which play a vital role in strengthening the national economy.

He further highlighted that, as part of its commitment to supporting local industries, the factory has been provided with essential machinery worth 100 million Afghanis under a Murabaha Islamic financing contract facilitated by the Agricultural Development Fund of Afghanistan. This initiative aims to ease the financial burden of investment. The factory utilizes locally sourced raw materials such as wool and cotton, which not only contributes to the development of the livestock and agricultural sectors but also helps in creating employment opportunities. The Deputy Prime Minister noted that the Islamic Emirate is striving to reduce dependence on foreign imports and provide job opportunities for citizens through increased investment.

During the ceremony, the Deputy Prime Minister called on all traders and investors to invest in Afghanistan to contribute to the country's development and economic growth. He assured them that the Islamic Emirate has facilitated all necessary provisions and will fully support their initiatives. In conclusion, Deputy PM Mullah Baradar Akhund congratulated the management of the factory on their achievements and advised them to produce high-quality products that meet accepted standards to serve domestic needs.

It is worth mentioning that the Bakht Blanket Manufacturing Factory has made an investment of approximately 930 million Afghanis, with an initial daily production capacity of 1,000 blankets, which is expected to increase to 5,000 blankets in the future. Currently, the factory has created employment opportunities for around 900 individuals.