Raw cotton grading can
In the absence of grading and standardization of raw cotton the country
is losing over $2 billion in foreign exchange on export of poor quality cotton, yarn and
textile made-ups. "Once we adopt standardization system the price of Pakistani cotton
in the world market would rise between 5 to 7 cents per pound," observed deputy
secretary ministry of food, agriculture and livestock (MINFAL) Mr Ziauddin here on
Speaking as chief guest at certificates awarding ceremony of 16th
cotton selectors course organized by Pakistan Cotton Standards Institute, he said, that it
was strongly felt that the future gains in cotton production were possible through
vertical expansion and quality control.
After analyzing the present cotton pricing and marketing system, he
said, it was found out that the main problem area in the system was deficiency in quality
management. Independent assessments also revealed, he pointed out, that it might be
difficult to upgrade Pakistani textile products if the quality of raw cotton remained as
it was now.
He said that cotton standardization programme was in fact highly
desirable in view of the growing competition and for ensuring credibility in the world
market. Consequently, introduction of scientific and internationally recognized cotton
grading and standardization system would help in improving the image of Pakistani cotton
in the world and local market, he added.
Mr Ziauddin who attended the ceremony on behalf of secretary MINFAL, Dr
Zafar Altaf who could not come due to preoccupation in Islamabad, said that local textile
industry would benefit the most from the application of grading and standardization system
as it would provide the spinners with graded and technically classified lint cotton. This
would also cut losses during processing and reduce cost through the provision of clean,
graded and uniform lint cotton, he maintained.
NetSol Internet services
NetSol International, Inc., first Pakistani company listed at the
Nasdaq, is launching nationwide Internet services in Pakistan through its wholly-owned
subsidy eReady, according to a press release.
With the brand name of NetSolCONNECT's. eReady plans to commence its
operation in Karachi from June 2000 and expects to develop the same ISP infrastructure in
another seven cities of Pakistan, the company's chief executive Naeem Ghauri said.
"We believe NetSolCONNECT will offer Pakistan superior technology
and Internet services. Using an aggregate connection close to 6 megabytes and scaling to
48 megabytes, eReady's first phase will provide a network that we believe will be 20 times
faster than the competition," Naeem said.
NetSol is the first Pakistan and third regional company listed at the
Nasdaq with market capitalization of $ 500 million. It specializes in creating eBusiness
and web-based solutions for blue-chip customers worldwide.
Economic ties with Greece
There exists great scope of expanding economic relations between Greece
and Pakistan to the benefit of both the countries.
This was stated by the leader of visiting 7-member Greek businessmen
delegation Mr. Minos Kyriakou during a meeting with the Acting Secretary Board of
Investment, Mr. Ahmad Shamsul Huda here on Saturday.
Tea processing project revived
The federal government has decided to revive the dormant black tea
processing plant project at Mansehra and has approved release of Rs32 million for its
The ministry of food, agriculture and livestock will be the executing
agency of this project. A foreign exchange component of Rs10 million has also been
earmarked for the project.
Tax-free zone for e-commerce
Managing Director, Social Process Development Centre, Dr. Hafiz Pasha
has said that setting up of tax free zone has become most important for the promotion of
e-commerce if Pakistan is interested to increase its exports.
Addressing a 2-day seminar on e-commerce at the IBA, he said the
country has the ability to move into the era of electronic trade, but there is a need for
a regulatory system and awareness in the general public.
According to an IBA's release, he said the issue of e-commerce has come
up in a big way that is why most of the countries have no option but to move on
PTCL messaging service
After launching messaging service from Islamabad, Rawalpindi and
Peshawar, the Pakistan Telecommunication Company Limited (PTCL) as a part of its expansion
programme is set to introduce the messaging service in Karachi, Hyderabad and Quetta. This
was stated by the Director General (operations) South Karachi, Irfan Ali Khan.
Drought resistant crop
Minister for Food and Agriculture, Dr. Shafqat Jamote has asked the
scientists to develop drought and heat resistant varieties to meet the challenge of water
Underlining the present water shortage across the globe, in general, and
Pakistan, in particular, Dr. Jamote also asked them to work out water requirement for each
and every newly developed variety for future planning.