25 - Oct 01, 2000
Cotton arrival picks up
The arrival of cotton picked momentum this
fortnight as more than 441,399 bales of cotton reached ginning
factories till Sept 15.
According to the fortnightly report of Pakistan
Cotton Ginners Association (PCGA) here Tuesday, the arrival between
Sept 1 and 15, stood at 252,638 bales.
PCGA report said that the association did not have
data for the corresponding period last year.
About 202 ginning factories were operational in the
country of which 103 operated in Punjab and 99 in Sindh.
The arrival of cotton at ginning factories in Sindh
was estimated at 296,947 bales mainly from lower parts including
Tharparkar, Sanghar and Hyderabad.
In Punjab, the arrival was estimated at 144,452
bales during the same period under review.
In Punjab, cotton has arrived from major cotton
growing areas like Faisalabad, D G Khan, Sahiwal and Vehari.
Of the total arrival this season, the ginning mills
have sold 332,949 bales to textile mills and exporters.
A high-level meeting has identified a list of 100
ginning factories which had agreed to supply contamination-free cotton
to Trading Corporation of Pakistan.
A senior TCP official said here on Tuesday that 75
mills are located in Punjab while 25 are in Sindh which will produce
cotton lint in accordance with PCSI standards.
He said the meeting which was chaired by Secretary
Ministry of Food and Agriculture at Multan, decided that it was
necessary to produce contamination free cotton for export purposes.
These mills will ensure that the grading of lint
cotton is done by the classers of Pakistan Cotton Standard Institute (PCSI).
Instead of mixing good quality cotton with lower
quality, ginners will separately gin good quality cotton for TCP and
ensure lesser contamination.
He said so far TCP has finalized the contracts of
4,400 bales of cotton from ginners in the country.
Relief package for six industries
The government will next week announce relief
package for six industries hit by readjustments made in the current
Government sources said that a re-adjustment in
their duty and tax structure is under process by a Tax-Anomaly
committee set up last month.
The committee has finalized recommendations due to
be announced next week.
It studied complaints of industrialists saying the
protection from cheap imports previously enjoyed by them has been
eliminated or reduced due to the changes made in the budget 2000-001.
The industries, which will be provided relief,
produce phthalic anhydride, line-pipe; steel billets; viscose filament
yarn; self-adhesive tape and skin cream. These industries had filed
applications for review in duty structure and the committee assigned
the study of each item to sub-committees who have submitted their
reports. These sub-committees were manned by CBR, National Tariff
Commission (NTC), Engineering Development Board and Ministry of
Support price system defended
Representatives of provincial governments on
Tuesday, emphasized on the centre to continue with the existing
support price system for agricultural commodities, thus ensuring a
fair return to the farmers on their produce.
They pointed out that it was also necessary to save
the unorganized farmers from the clutches of free-market forces, which
do not give fair return to the growers.
Official sources said, this consensus was developed
during the first meeting of the Inter-Provincial Support Price
Committee which met on Tuesday with M. Shafi Niaz Advisor to the Chief
Executive on Agriculture in the chair.
US to provide soyabeans
The United States will donate 165,000 tons of
soyabeans and 75,000 tons of soyabean oil to Pakistan for poverty
alleviation, the Agriculture Department said on Friday.
It also announced the signing of a PL-480
"Food for Peace" agreement with Pakistan to facilitate the
sale of $8 million worth of US corn, or about 90,000 tons.
Both agreements call for delivery during fiscal
2001, which opens October 1.
The soyabeans and soyoil will be sold and the
proceeds used in programmes that aid the poor, including a social
action programme that encompasses health, education, rural water
supply and sanitation, and agricultural revitalisation.
US officials said the corn also would be used in
200 acres of land to EPZA pledged
Governor of Sindh Mohammedmian Soomro has agreed to
hand over 200 acres of land adjacent to Karachi Export Process Zone (KEPZ)
to Export Processing Zones Authority (EPZA) for expansion plan of KEPZ.
This decision was taken by the governor of Sindh
during his visit to KEPZ on Saturday, where he was briefed by the
chairman EPZA, Maqsood Ismail about the working of the free zone.
The EPZA chairman informed the governor that on
allocation of 200 acres of land adjacent to KEPZ another 100
industrial units could be established and this would help generate
employment opportunities in the province.
The retailers paying sales tax under Tax Enrolment
Scheme have been allowed by the government to get their undeclared
stocks-in-trade cleared at 1 per cent under the Sales Tax Stock
The retailers and wholesalers paying 2 per cent
sales tax under the Enrolment Scheme have already been allowed to get
their undeclared stocks cleared after paying 2 per cent.
IMF for realistic revenue target
The visiting IMF review mission is seeking
realistic revenue collection target with considerable reduction in
GDP-budget deficit to improve the country's fragile economy.
According to informed sources, the mission is not
sure that the government will achieve an all-time high Rs436.5bn
target set for the current financial year.
The mission has called for revising the target
The sources said that the mission had also inquired
from the senior officials of the finance ministry whether they had
already lowered the target from Rs436.5bn to Rs430bn.