Nov 27 -
Dec 03, 2000
Govt to allow export of 6 items to CARs
The federal government has finalised a plan to
permit the export of six local products to Central Asian Republics via
Afghanistan on a six-month trial basis.
The six goods — cement, rice, pharmaceuticals,
glass sheets, G.I. pipes and hardware items — could be exported
against irrevocable letters of credit or advance payment in foreign
currency. These export goods shall be zero-rated for sales tax, and be
eligible to normal duty drawbacks.
The Commerce Ministry with the active consultation
of the Agriculture and other concerned ministries has recommended the
Economic Coordination Committee (ECC) of the cabinet to approve only
six items for export purposes, although the NWFP government had
recommended export of 100 items. A source said that a summary has been
submitted before the ECC.
The ECC had asked the ministry to send a summary
for the export of a few selected items for export to the Central Asian
Republics via Afghanistan.
It had directed that the scheme should involve
monitoring of actual movement of the goods and if the goods are not
sold there, the scheme should be discontinued. The ministry has also
suggested that in order to stop this scheme from being misused, the
Pakistan embassy/consulate in Kabul and Kandhar should verify the
arrival of the export consignment from Pakistan.
The packages or retail packing shall be clearly
marked "For Export Only" and transportation of these goods
should be allowed through government's approved transporters only.
The ECC has also been informed that the ministries
of Defence, Agriculture, Industries & Production, Foreign Office
and Health, CBR and ISI Directorate have supported the proposal while
the Defence Ministry has expressed its reservation vis a vis
deployment of NLC trucks for trans-border transportation.
$250m credit schemes for boosting exports
The government in cooperation with the Asian
Development Bank (ADB) has initiated two new credit facility and
guarantee schemes worth around $250 million for the promotion of
exports and Small and Medium Enterprises (SMEs) in the country.
This was stated by Minister for Commerce,
Industries and Production, Abdul Razak Dawood on Wednesday while
talking to newsmen at a seminar titled "Policy Measures for Small
and Medium Enterprises" organized by Japanese Small and Medium
"The two new schemes namely Export Credit
Facility Scheme worth $150 million and Export Credit Guarantee Scheme
worth $80 to $100 million will be operational by January 2001,"
Giving details of the schemes, the Minister said,
the Export Credit Guarantee Scheme worth $80 to $100 million will help
resolve the problems of SMEs in securing credits from banks by
providing collateral to the concerned banks on nominal charges.
$600m rice export target to be achieved
Pakistan would achieve the target of $600 million
earning from the export of rice this season, says Commerce Minister
Abdul Razzak Dawood. Talking on Tuesday, the minister said that the
delegation, which would leave for Tehran, would explore the
possibilities of exporting wheat and rice to Iran.
He said that Iran was primarily interested in the
import of rice from Pakistan. "But then the issue of exporting
our surplus wheat will also come up for detailed discussion
there," he added.
The commerce minister said that a special meeting
would be held on Wednesday to have the assessment of rice crop for the
current season. He was optimistic that rice production would be very
good like that of last year.
He pointed out that the export of Pakistani rice
had increased by 50 per cent and the government would achieve $600
million export target for the fiscal 2000-2001.
Exports to Iraq increased
Pakistan has received tenders worth $200 million of
goods from Iraq, says Export Promotion Bureau (EPB) chairman Tariq
In his speech at the inaugural ceremony of a
four-day workshop on "Doing business with Europe", Ikram
said his efforts for increasing trade volume with Iraq since February
had paid off and Pakistan's export to it had moved up to $15-18
million from $5-6 million. Iraq, China, Syria, Iran, and other such
friendly nations had the markets, which were never explored by
Pakistan, he said. He said the present government was giving utmost
attention to enhance trade relations with such countries to boost its
Iran has shown keen interest in importing wheat
from Pakistan to meet one million tons shortfall in its domestic
requirement, official sources said.
'Exporters of textile to face tough time'
Pakistani textile exporters will have a tough time
in Europe after the elimination of quotas and import tariffs and other
commercial barriers in 2005.
This was stated by CBI (Netherlands) consultant J F
Laman Trip while speaking at a news conference on the conclusion of a
four-day workshop on "Doing business with Europe" on
Thursday organized by the Export Promotion Bureau in collaboration
Import duty rates being reviewed
Concessional import duty rates of raw materials,
intermediary goods and finished products, meant to offer protection to
the local industry, are being reviewed for avoiding future anomalies.
Official sources told that a project for fresh
cascading of these rates has been launched to secure tariff rates for
more than 15,000 import items which relate to the local industry in
terms of raw materials, intermediaries and end-users' items (finished