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August 01, 1999

  1. International
  2. Finance
  3. Industry
  4. Policy
  5. Trade

EPB extends shipment period for textile quota

The Export Promotion Bureau has extended shipment period up to 240 days from 180 days for textile quota obtained by exporters on first-come-first-served (FCFS) basis.

The decision was made by Wajid Jawad, Minister of State and Chairman, Export Promotion Bureau (EPB), in consultation with the acting chairman of Quota Supervisory Cound.

The step has been taken in view of slow utilisation of quota in categories offered under FCFS because of world-wide recession. Tough competition faced by Pakistani exporters from their counterparts in India, China and Bangladesh as well as weak position of Euro against the dollar are other factors for slackness in quota exports to US and Europe.

Yarn order

An Iraqi firm has shown interest in importing yarn worth five million dollars and the import will not be under the Iraq-UN-MoU.

The firm has also shown interest to import surf and detergents from Pakistan, says a press release of Export Promotion Bureau (EPB).

Exporters seek cut in MEP of onion

Onion exporters have urged the government to decrease the minimum export price (MEP) of onion from $400 per ton to $160-200 per ton to help them compete with India in world markets.

Exporters expect onion production at 1.5 million tons out of which the country would consume about 1.0 million to 1.2 million, leaving an exportable surplus of 0.3-0.5 million tons.

President, All Pakistan Fresh Fruits and vegetables Association, Yousuf Abdul Rehman and President, Falahi Anjuman Wholesale Vegetable Market, Haji Shahjehan have asked the government to finalize the issue of MEP at the earliest.

Sindh Engineering may not be privatized

Sindh Engineering, a public sector enterprise, is likely to be excluded from the list of industrial units intended to be privatized, it is learnt from official sources.

The decision is being made as the government has signed an agreement with Tataristan government for the production of 750 CC car for which facility will be provided in Sindh Engineering.

Official sources in the ministry of Industry said on Monday that an official communication was likely to be made to the Privatization Commission to delete the industrial unit from the list which the government had planned to privatize.

Oka, a small car, will be produced in Pakistan within a period of one year. The government is planning to market the car at a rate which will not be more than Rs two lakh.

Pakistan to raise 'dumping' issue at WTO conference

Pakistan is set to lodge a formal complaint at the ministerial conference of the World Trade Organization (WTO) against textile and clothing importing countries which have applied protectionist measures in the name of anti-dumping, environment and child labour issues.

Official sources expected Pakistan to propose to WTO general council to initiate conduct a study on "damaging effects of unsuccessful anti-dumping actions since 1.1.1995".

The WTO ministerial conference is scheduled to be held in November this year to review the progress made in connection with the WTO and problems the underdeveloped countries are facing.

Sources said Pakistan felt that product integration was not being done as per the spirit of the WTO principles through fair treatment of developing countries. Trade in textile and clothing was subjected to anti-dumping measures, unilateral changes in rules of origin, repeated charges of child labour, environmental concerns etc. sources added.

Official sources said that US, Canada and European Union which used to be the main markets for textile products had been applying methods that ran contrary to the spirit of WTO mandate.

In the built-in-agenda of the Uruguay Round, sources said Pakistan's main interest lay in the implementation of Agreement Textile & Clothing (ATC).

An important feature of the Agreement is the product integration process. The integration programmes of textile products announced by major importing countries (USA and EU) for the first two stages of the transactional period since 1995 could not be regarded as meaningful and realistic. The endloading in the integration process which allows to integrate 40% in 2005 gives rise to concerns whether the implementation will take place at all and this may not be done on some pretext. The other major concern in the area of textile is related to frequent resort to anti-dumping measures by the textile importing countries.

UAE-based traders to invest in PM's transport scheme

Pakistani businessmen living in United Arab Emirates will invest in the prime minister's national transport scheme.

This was stated by Pakistan Business Council Dubai President Muhammad Siddique Chaudhry after a discussion on the transport scheme at the head office of Small and Medium Enterprise Development Authority here on Monday.

SMEDA Chairman Khawaja Belal Ahmed was also present. Siddique Chaudhry said it was first time that a long term transport plan had been devised in Pakistan which showed lot of promise to investors. He said overseas Pakistanis always looked forward to opportunities for investment in their homeland.

Potato exports fetch $19.2m

Pakistan exported 133 000 metric tonnes of potatoes during the year 1998-99, earning an amount of US $ 19.2 million.

According to Punjab Agriculture Economics and Marketing Directorate officials here Saturday, this was a record earning by during the last 10 years.

The main importer of Pakistani potato is Sri Lanka . However, Pakistan is trying to explore new markets in the Middle Eastern and Far-East countries like United Arab Emirates, Singapore, Hong Kong and Malaysia which are presently importing the vegetable from western countries like Holland.

The officials said that the country exported 38920 tonnes of potatoes during the year 1997-98 which fetched an amount of US $ 4.759 million to the national exchequer.

They termed the in-time announcement of 25 percent subsidy as a welcome step.