Afghanistan becoming one of world's most affluent nations!
Tuesday, 15 June 2010
From Fazle Rashid
NEW YORK, June 14: Afghanistan could soon be a story of from rags to riches. It will no longer have to rely entirely on poppy. Afghanistan is going to take its seats among the most affluent nations of the world.
How is this wonder going to happen ? The United States has discovered nearly $1.0 trillion in untapped mineral deposits far beyond previously known reserves and enough to fundamentally alter the Afghan economy according to American government officials, the New York Times in a front page story reported today. Huge reserves of iron, copper, cobalt, gold and lithium are so big and include so many minerals that are essential for modern industry.
Afghanistan could eventually be transferred into one of the most important mining centres in the world, the NYT quoted the American officials as saying. The enormous reserves has been discovered by a team of Pentagon officials and American geologists. Hamid Karzai has been briefed about the happy news. American officials expect Afghanistan would attract heavy investments even before the mines become profitable.
There is stunning potential here, said Gen. Petraeus, Commander of the US Central Command. It is hugely significant, he said.
The value of the newly discovered wealth " dwarfs " the size of Afghanistan's present war-beleaguered economy which is largely based on foreign financial assistance, opium production and narcotics trafficking. Afghanistan's current GDP is about $12 billion. Charges of corruption and nepotism continue to plague the Karzai government. The newly found wealth instead of ushering in peace could lead Taleban to battle even more fiercely to regain control of the country, the analysts say.
Corruption could increase if a handful of well-connected people could lay their hands on the resources. The Afghan mining minister has been accused by the American officials of accepting bribes to the tune of $30 million to award China to develop Afghanistan's copper mines. China is likely to play a dominant role in developing Afghanistan's newly found vast mineral reserves
Pakistan's main intelligence agency continue to provide financing, training and sanctuary to Afghan Taleban insurgents and exerts far greater influence on Taleban than previously thought, a report prepared by the London School of Economics said.
This is no surprise. Without a change in Pakistani behaviour it will be difficult if not impossible for international force to make progress against the insurgency, same report said.
NEW YORK, June 14: Afghanistan could soon be a story of from rags to riches. It will no longer have to rely entirely on poppy. Afghanistan is going to take its seats among the most affluent nations of the world.
How is this wonder going to happen ? The United States has discovered nearly $1.0 trillion in untapped mineral deposits far beyond previously known reserves and enough to fundamentally alter the Afghan economy according to American government officials, the New York Times in a front page story reported today. Huge reserves of iron, copper, cobalt, gold and lithium are so big and include so many minerals that are essential for modern industry.
Afghanistan could eventually be transferred into one of the most important mining centres in the world, the NYT quoted the American officials as saying. The enormous reserves has been discovered by a team of Pentagon officials and American geologists. Hamid Karzai has been briefed about the happy news. American officials expect Afghanistan would attract heavy investments even before the mines become profitable.
There is stunning potential here, said Gen. Petraeus, Commander of the US Central Command. It is hugely significant, he said.
The value of the newly discovered wealth " dwarfs " the size of Afghanistan's present war-beleaguered economy which is largely based on foreign financial assistance, opium production and narcotics trafficking. Afghanistan's current GDP is about $12 billion. Charges of corruption and nepotism continue to plague the Karzai government. The newly found wealth instead of ushering in peace could lead Taleban to battle even more fiercely to regain control of the country, the analysts say.
Corruption could increase if a handful of well-connected people could lay their hands on the resources. The Afghan mining minister has been accused by the American officials of accepting bribes to the tune of $30 million to award China to develop Afghanistan's copper mines. China is likely to play a dominant role in developing Afghanistan's newly found vast mineral reserves
Pakistan's main intelligence agency continue to provide financing, training and sanctuary to Afghan Taleban insurgents and exerts far greater influence on Taleban than previously thought, a report prepared by the London School of Economics said.
This is no surprise. Without a change in Pakistani behaviour it will be difficult if not impossible for international force to make progress against the insurgency, same report said.