Oct 30 -
Nov 05, 2000
12 states account for 63% of Pakistan imports in
Twelve countries accounted for more than 63 per
cent of Pakistan's imports — Japan in the lead with highest import
bill, indicates an analysis of the official trade statistics for
five-year period, during 1994-99.
The other main sources of imported commodities are:
USA, Malaysia, Saudi Arabia, Kuwait, China, United Kingdom, Dubai,
South Korea, Switzerland, Italy and Germany. In 1994-95, imports from
these top-12 countries had constituted 67.4% of total figures. By
1998-99, their share had registered a decline of 4.3%.
Interestingly, the $9.43 billion import bill for
1998-99 was lower than $10.39 billion for 1994-95 or by 9.26%,
although during the intervening years — it amounted to $11.8 billion
in 1995-96; to $11.89 billion in 1996-97; and to $11.12 billion in
As a reflection of these fluctuations during the
period under review, the proportion of exports to imports registered a
significant improvement from 78.27% in 1994-95 to 82.47% in 1998-99.
The decline in imports during this period was
mainly due to the drop in import machinery excluding transport
equipment, petroleum & petroleum products, transport equipment,
edible oils, iron & steel etc.
Chemicals constituted the highest share of total
imports of Pakistan in 1998-99 i.e 19.4%. These were followed by
machinery excluding transport equipment (17.8%), petroleum &
petroleum (15.5%), edible oil (8.7%), transport equipment (5.7%), iron
& steel (3.1%) and tea (2.4%).
Japan, whose exports in 1998-99 totalled $786
million, came out to be the country claiming the highest — 8.3% —
share in Pakistan's import bill. This resulted in a trade deficit of
$0.51 billion in that year with that country alone. This is well nigh
one-third of the total trade deficit of $1.65 billion incurred by
Indian sugar arrives
The un-loading of 13,125 metric tons of Indian
sugar will begin shortly as the ship — Atlantic Spirit — has
already berthed on Tuesday night.
Due to absence of ready buyers, the Trading
Corporation of Pakistan, has decided to keep the commodity at its
According to TCP chairman, Masood Alam Rizvi,
Canteen Stores Department (CSD) has agreed to take around 500 metric
tons while the Corporation intends to give the rest of the quantity to
Utility Stores Corporation (USC) for which negotiations are underway.
In case the USC disagrees to lift the sugar, Mr
Rizvi said we will float tenders for its sales.
"TCP is not in a hurry to issue tender right
now because we have to review the demand situation which will
definitely go up in Ramazan," he told on Wednesday.
FRC to evolve fertilizer import plan
The government has called an emergency meeting of
the Fertilizer Review Committee (FRC) on Thursday to evolve a
strategy, in collaboration with the private sector, for the import of
the commodity during the Rabi season.
The meeting has been called because of the fear of
urea shortage during January to March 2001, as its local production
has been stopped after a blast at the Pak-American Fertilizer factory.
The meeting, to be presided over by Agriculture
Secretary Zafar Altaf, will also consider the post-exemption situation
after the withdrawal of 30 per cent cash margin on LCs for fertilizer
It will also discuss month-wise position of the
supply/demand off-take of fertilizer during last Kharif when FFC/NFC
exported 123,000 tons of urea against the ECC's approved quantity of
100,000 tons. The working paper has suggested that the fertilizer
units should continue their urea production during the coming three
months to overcome the expected shortages.
Saudi Arabia may buy Pakistan wheat
Saudi Arabia has expressed its willingness to
purchase 1 million ton of wheat, worth $120 million, from Pakistan,
official sources said.
The federal government has reportedly withdrawn its
decision to export 2 million tons of wheat from its surplus stocks
owing to bleak future of crop next year.
The Export Promotion Bureau (EPB), on the other
hand has informed the government that it has received positive
response from Saudi Arabia regarding the sale of wheat and that it was
also likely to strike deals with Dubai and UK also.
No further reduction: Razak
Pakistan has agreed with IMF to reduce its import
tariff to 25 per cent from January 1, 2003, said the Minister for
Commerce, Industries and Production, Razak Dawood. "The reduction
from 30 per cent, on January 1, 2002 to 25 per cent by January 1, 2003
is part of our negotiations with the IMF", disclosed the commerce
Speaking at a news conference on Tuesday, he said
that there would not be any further reduction in the import tariff. He
said reduction of tariff to 25 per cent was unavoidable for Pakistan.
"Certainly there will be a negative revenue impact due to this
eventual 25 per cent import tariff", he conceded.
Thailand keen on joint ventures
Thailand is keen to develop joint ventures in
business with Pakistan to boost trade which now totals only $155
million per annum, Wairak Walairat, Minister-Counsellor (Commercial)
of Thai Embassy told the Islamabad Chamber of Commerce & Industry
Speaking at the ICCI, he said Thailand's exports to
the outside world were of the order of $ 60 million last year.
APTMA seeks ban on raw cotton export
All Pakistan Textile Mills Association,
Sindh-Balochistan zone has urged the government not to allow raw
cotton export until the crop size was determined.
This demand was raised in an emergent meeting of
APTMA, SB Zone and was presided over by its Chairman Mushtaq Ahmed
Vohra on Thursday.
After examining the present price pattern and
supply of cotton, APTMA chairman suggested that export of cotton
should not be allowed till the size of the crop was determined.