Afghanistan stands on the brink of economic failure, economic insecurity in Afghanistan means danger to life for Afghans. The country’s GDP growth drops by 26 % which means a threat to existence of millions, this explain poor livelihood. Out of 42. 8 million population, 69 percent of people cannot secure their food, water and many other essentials to sustain life because of natural disasters and humanitarian crises. The once brewing markets are stagnant now. For increasing the fragility of Afghan economy, there are number of factors but the two important factors are Total export to Pakistan have dropped by $ 24 percent where as total trade gap have surged by $ 34 percent in the current year . As all this is affecting the economy, the Taliban regime is fighting the international financial bans and embargo schemes. The new government in the political frame of the Taliban has no other choice but to seek ways for rebuilding the Afghan economy from scratch. Afghan people now call for support and aid with their living from the international community, but a crucial question is whether the international community will consider the request and work in conjunction with the Taliban administration to help Afghanistan’s people in the country.
The United Nations mentioned that there is a lack of funding for the humanitarian crisis in Afghanistan and leading to the country’s economy upturn. This critical funding gap will pose a huge challenge to humanitarian aid to millions of people in Afghanistan. All in all, it can be concluded that Afghanistan needs economic revival for the overall improvement of the people’s quality of life. The Taliban regime must strive to advance the economy for which the group needs to focus on trade diversification, financial restructuring, and infrastructure enhancement. That is why such infrastructure projects as the Turkmenistan-Afghanistan-Pakistan-India gas pipeline (TAPI) will assist Afghanistan to diversify its sources of income, especially in energy exports in the future rather than continued imports. The programme of copper extraction in Aynak will assist in job opportunities and export income. CASA 1000 is a $1B company that deals with power transmission and distribution products and services. 125GW regional power project which will impart energy integration, electricity exchange, and development of all the nations that are involved in the project. This project can accommodate several provinces of Afghanistan for example; Panshjir, Kabul, Bhaglan and Kunduz.
The Taliban needs to cut Pakistan’s vulnerability to access its port hence, it intends to invest $ 35 million in Iran’s port. In addition to that, the Taliban regime should also set objectives and work to enhance relationships with the neighboring countries such as India, Iran, China, and Pakistan. Regional economic cooperation shall be of aid for further developing and strengthening of the Afghan economy. The author suggested that the Afghanistan authorities should improve conditions for investment and enterprise by creating transparency, introducing regulation, and improving information and credit. Afghanistan now fights with such problems; the specialists suggest the banks should invest appropriately to reconstruction and the agricultural and industrial fields in Afghanistan. This will assist in the regeneration of public credibility as well as the enhancement of the pace of economic growth. All these shall galvanise the resource-starved Taliban regime to interface with the global community and markets.
However there are many challenges that Taliban regime experiences because of its non-recognition by the world markets. Inability to recognize Afghanistan causes several interferences with several states’ relations and many governments reject Afghanistan’s admission. Financial restriction and special measures that can be applied regarding assets in foreign countries; interference with diplomatic as well as with public relations can become challenging in terms of the accomplishment of aims and objectives. All these hinderances raise the complexity of attaining and sustaining robust security for structures, centralized policies, or local development. To counter all these challenges, the regime has to draw global interest by repaying up to the international community’s expectations. Afghanistan’s economic reconstruction, therefore, requires support from the global society since the society has significant influence over Afghanistan. Besides, this might be even more productive if the Taliban regime has followed the path of reforms with the help of the international sources, which will result in cooperation in the international level.
The financial support from the international partners can help Afghanistan to get out of economic troubles. On the other side, it is also turn of the international community claim to unfreeze Afghan assets, Financial and International transaction and Promote investment. Suspension of the sanctions and offering technical support to Afghanistan will aid in stabilising the economy of the country.
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