Nov 20 -
Anomalies to hit leather export
Exporters fear that a remarkable growth of 28 per
cent in leather and leather goods exports during the last four months
may not sustain, if the government would not remove deficiencies and
bottlenecks confronting the export trade.
"There is a spurt in exports of leather and
leather goods, which remained in slackness for a long spell of four
years to touch a rock bottom at $535 million in the year 1997," a
leading exporter said.
During 1977-83 period growth in leather and leather
garments exports stood at 14 per cent and thereafter it continuously
(1983- 1992) rose by 19 per cent to touch a highest level of $634
million in the year 1993.
A sudden change in fashion and style in the
affluent society of the west and show-biz circles including movie and
TV actors for leather jackets are likely to create strong demand for
quality leather garments in coming years, said another exporter.
Moreover, rising trend of using fine leather by
automobile industry for interior decoration including seat covers gave
new dimension to export market, where Pakistani leather products could
very well compete and have their due share of the market, exporters
Due to defective government policies and
bureaucratic snags resulting in shortage of raw material, the leather
industry is operating under capacity upto 40 per cent, chairman
Pakistan Tanners Association (PTA) Farrukh H Sheikh told.
Citing some of the reasons for retarding leather
and leather garment exports, the PTA chief said that the SRO 1319 and
SRO 417 were a few to be quoted, which were totally anti-export and
Textile exports up by 7.48pc
The exports of textile products have posted an
increase of 7.48 per cent in dollar term and 14.71 per cent in rupee
term in July-October 2000.
According to official statistics, textile exports
stood at more than $ 1.889 billion during first four months of current
fiscal against $ 1.758 billion same period last year.
In rupee term textile exports amounted to Rs 104.23
billion in July-October 2000 compared with Rs 90.863 billion during
the same period last year.
In dollar term, the major increase was witnessed in
the exports of towels which surged by 44.32 per cent, rising from $
46.835 million in July-October 1999 to $ 67.592 million in the period
The exports of synthetic textiles were up by 27.69
per cent to $ 178.368 million this quarter against $ 139.688 million
same period last year.
Iran to purchase wheat, rice
Iran has invited a delegation of Trading
Corporation of Pakistan (TCP) to visit Tehran for holding negotiations
for the sale of Pakistani wheat and rice.
Pakistan's ambassador to Iran has requested
Islamabad to immediately send a TCP delegation as the Iranian
government had strongly indicated to buy 500,000 tons of wheat from
Pakistan. Iran has also indicated to import rice from Pakistan if an
attractive deal was struck between both the sides.
Sources said the Iranian government has also asked
Pakistan to send a delegation comprising people from the private
sector, producing surgical, sports goods industry, synthetic textile,
denim cloth etc to give an idea to their importers that what kind of
material/ goods they could import from Pakistan.
Iranian dates arrive
The country has started receiving fresh supplies of
dates from Iran, as the local stocks are close to an end. Traders at
Karachi's dates market, situated in Lyari, said that the local produce
in the market would hardly constitute 25 per cent of the available
stock as 75 per cent of the stock is imported. They said that despite
huge local production this year, some 10,000 tons of dates would be
imported for Ramazan.
Pakistan this year produced 650,000 tons dates, of
which over 550,000 tons were consumed locally, whereas a good amount
was destroyed because of unfavourable infrastructure, while the
remaining stocks is committed for export, a senior official at Export
Promotion Bureau said.
During the previous fiscal, Pakistan exported
64,221 tons dates and earned $23.9 million. The EPB official said that
the country could export more dates, if the infrastructure facilities
Petroleum group imports increased by 76.78%
The imports of petroleum group increased by 76.78
per cent in dollar terms during July-October 2000 as compared to the
corresponding period last year.
It is this sharp rise in petroleum group imports
which raised the import bill to $3.21 billion, up 15.11 per cent from
the same period of 1999. Consequently, the share of this group in
overall import bill jumped to over 35% as against 23% in July-October,
1999, it is shown by an analysis of the foreign trade figures released
by the Federal Bureau of Statistics.
The serious implications of rising imports of
petroleum group for the difficult balance of payments situation is
also evident from the fact that the $567 million increase on its
account constitutes as much as 77% of the trade deficit. The trade
deficit at the end of the four-month period stood at over $727.3
IDB to raise $2bn for intra-trade
The Islamic Development Bank (IDB) has decided to
generate and mobilize $2 billion funds in a bid to push up intra-trade
volume among the Muslim countries that currently amounts to meager 10%
of the global commerce.
According to the Bank's officials, the Executive
Board of the Bank has approved $ one billion from its own resources
for the purpose.
Besides, they said, the Bank has also approved the
mechanisms that would enable the IDB to mobilize an additional sum of
one billion dollars from the market to react to the financing requests
by the member countries in this connection.