Afghanistan industrialists say 1.5 mn people may lose jobs if sanctions continue: Report

The deteriorating financial condition of Afghan citizens has become a matter of concern for the international community and the United Nations. Following the Taliban's takeover of Afghanistan, the United States froze the Afghan Central Bank's assets and imposed sanctions on the Taliban. In the latest development, Afghan industrialists have called on the international community to unfreeze Afghan funds and highlighted that around 1.5 million people will lose jobs if they are not provided with financial assistance immediately, ANI reported.

Highlighting the economic condition of Afghanistan, the industrialists insisted that if they are not provided immediate financial assistance, it will result in the closure of several factories. According to the industrialists, the closure of factories will further lead to 1.5 million people getting unemployed in a nation whose economy is seeing a sharp decline.

Afghanistan witnessing an 'unreal and fragile economy'

Sherbaz Kaminzada, head of the Chamber of Mines and Industries of Afghanistan, said that factories in the country are on the brink of collapse. Kaminzada added that the factories will ultimately close if the assets of Afghanistan are not released, ANI reported, citing Khaama Press.

Kaminzada underlined that Afghanistan is having an 'unreal and fragile economy' over the past two decades and he urged the Taliban government and international community to cooperate with industrialists of the country for growth in the economy. 

'1.5 million people may lose their jobs': Sherbaz Kaminzada  

Sherbaz Kaminzada explained that owing to the lack of money and the banking system restrictions, it is becoming difficult for industrialists to procure raw material and the situation is subsequently impacting workers, investors and common people. He added that these conditions will lead to 1.5 million people losing their jobs, which includes more than 500,000 women.

Kaminzada made the remarks in his meeting with the UN Secretary-General's Special Representative to Afghanistan, Deborah Lyons, on the sideline of the Economic Conference in Kabul on Wednesday, 19 January. Deborah Lyons has assured the Afghan industrialists of raising their concerns with the United Nations and to come back with 'positive outcomes.'

"Hundreds of factories in Afghanistan do not have the raw material that has directly affected the workers, investors, and common people," Sherbaz Kaminzada was quoted by ANI as saying.

Over half a million people lost their jobs in Afghanistan: ILO

Over half a million people have lost their jobs after the Taliban takeover in Afghanistan since mid-August, last year, the International Labour Organisation (ILO) Asia-Pacific said in a report. As per the report, women's employment levels are extremely low in comparison to global standards. The tally is expected to have decreased by 16% in the third quarter of 2021 and could fall further up to 28% by mid-2022.

In the third quarter of 2021, the total number of hours worked in the Afghan economy is estimated to have witnessed a drop by 13% in comparison to a hypothetic situation with no change in administration.

(With inputs from ANI, Image: AP)