INSUBCONTINENT EXCLUSIVE:
Afghanistan&s extractives industry never achieved its potential, despite years of US development efforts, a US watchdog report concluded.The
US government spent nearly $1 billion to fund critical mineral surveys, mineral exploration, regulatory reforms and capacity development for
the former Afghan government, according to the report by the Special Inspector General for Afghanistan Reconstruction, or SIGAR.&US efforts
in Afghanistan&s extractives industry presented one of the greatest opportunities for the Afghan government to generate royalty income, grow
its economy, and provide meaningful employment,& the report said
&Nonetheless, multiple factors, including corruption and illegitimate and unregulated mining, hindered Afghanistan&s ability to successfully
develop its extractives industry.&For example, corruption persisted throughout US efforts to develop Afghanistan&s extractives industry and
political elites, warlords, military personnel, and the police controlled many mining operations—the former Afghan government estimated
that it lost $300 million in revenues annually from illegal mining, according to the report.SIGAR said that Afghanistan&s challenges in the
industry, along with the COVID-19 pandemic, the collapse of the former Afghan government, and the lack of accountability and oversight,
impeded sustainable progress in the development of the country&s extractives industry.The US government estimated the territory of
Afghanistan could hold more than $1 trillion worth of mineral deposits, which could be used to generate potentially significant revenue for
the Afghan government and support Afghanistan&s economic development.SIGAR also highlighted that US agencies did not perform required
oversight of the programs to develop Afghanistan&s extractives industry.&In the 20 years of US presence, there was no developmental and
infrastructural strategy or plan,& said Shabir Bashiri, an economic expert.The Islamic Emirate of Afghanistan (IEA) meanwhile has
prioritized mining in its bid to boost the country&s economy.&There has been greater transparency, expedition and biddings in the mining
sector since the Islamic Emirate took over
Efforts are ongoing for the extraction of our oil and minerals
Hopefully it will eliminate economic poverty in Afghanistan,& said Sakhi Ahmad Paiman, deputy head of Chamber of Industries and Mines.The
post Afghanistan&s mining industry never achieved its potential, despite US efforts: SIGAR first appeared on Ariana News.
