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TRADE

Jan 31 - Feb 06, 2000

  1. International
  2. Finance
  3. Industry
  4. Policy
  5. Trade
  6. Gulf

Sugar exports may not be allowed

The Government is unlikely to allow sugar export by private sector during the year 2000 as final estimates say that Pakistan will have no surplus stocks of the commodity during '99-2000.

The decision in this regard is expected in the next ECC meeting in the light of a report submitted by a high-level committee formed by ECC on Jan 16.

Sources said no subsidy demanded by sugar mill owners for export purpose will be given during the current financial year.

The government also plans to keep reviewing sugar production, available stocks and market prices. In this regard, ministry of industries and production has been directed to submit a fortnightly report to the Economic Coordination Committee (ECC) of the federal cabinet to help the government to assess the situation regularly.

PNSC to acquire oil tankers

Chairman Pakistan National Shipping Corporation (PNSC) Vice Admiral A.U. Khan has said that the corporation will acquire one or two 85,000 ton oil tankers in this financial year to cater to the needs of the country.

He said that PNSC had earned an operating profit of 125.43 million in financial year ending 1998-99 in spite of depressed economic condition. However, he said, profit and loss statement shows an overall loss of Rs. 116.173 million as under the revised international accounting standards.

Tenders for supply of canvas shoes

Export Promotion Bureau has received a tender from supplies department of Hongkong government, it was stated here Wednesday.

The items required under tender include supply of 131, 419 pairs of rubber canvas shoes, supply of 1600,000 sulpiride capsules and tablets, supply of 7,700,000 captopril tablets, supply and installation of a radiography fluoroscopy system and supply of basic dressing packs.

Closing dates for submitting quotations are 02-02-2000 to 08-02-2000.

Interested Pakistani exporters can also obtain details of tender inquiry from Information and Advisory Centre, Export Promotion Bureau, Karachi/ Regional offices.

Onion exports to Brunei

At a high level meeting held here means for exporting Balochistan exportable 5.5 lakh tons surplus onion to Brunei was devised.

Chaired by the provincial agriculture secretary Maj (R) Ali Raza and attended by the chairman, Balochistan Chamber of Commerce and Industry Sardar Mohammad Ali Jogezai, director Export Promotion Bureau Sarwar Brohi, importers and exporters, the meeting considered Burnei's offer for the purchase of Balochistan surplus onion.

Stocks lose 121 points

Stocks on Tuesday staged a smart recovery after an early crash from the recent highs when the KSE 100-share index was off 144 points or nine per cent on panic selling. It finally ended off 121 points at 1,665.10.

Govt plans to import O.lm tons of fertilizer

Pakistan plans to import 0.1m metric tons of DAP fertilizer for kharif season (2000). The new season will start from March.

Sources claimed that the Fertilizer Import Department of the agriculture ministry has been asked to make early arrangements for the import of required commodity to avoid any problem at the sowing time.

Meanwhile, the federal ministry of food, agriculture and livestock has requested the finance division to arrange required foreign exchange for the import of 0.1m of DAP fertilizer.

Official sources told on Tuesday this fertilizer import estimate has been set after a meeting between the concerned officials of the agriculture ministry and representatives of the private sector last week at Islamabad to review the fertilizer requirements for kharif season.

During the meeting, both the sides discussed the availability of DAP stocks during kharif on the basis of import being made by the private sector and expressed satisfaction over fertilizer stock availability in the country.

However, officials said the government has decided to import 0.1m metric tons DAP with the view to keep the prices of the fertilizer stable and at lower level (at Rs 600 per bag) in the local market for the benefit of growers. The other objective is to address pocket shortage during the sowing season. Similarly, the government wants to keep the buffer stock in the godowns to meet any emergency and does not want to repeat the mistake of '98 when fertilizer shortage dealt a serious blow to the wheat sowing. To a question, sources said, it was disclosed that opening balance of DAP in April 2000 has been estimated at 367,000 metric tons.

Kinoo export to Malaysia will double in two years

Pakistan hopes to double the sales of its kinoo (oranges) to Malaysia from the current 1 million to 3 million (units) in the next two years, a Pakistani official said here and added, "we are very encouraged by the response we have had from Malaysian consumers."

Tajammul Hussain, director Export Promotion Bureau and leader of 8-member Kinoo growers' team made these remarks at the first ever kinoo exhibition opened here on Tuesday by the Pakistan government.

Export orders

Pakistan's exporters of handknotted carpets booked orders worth $23 million for their products at the Domotex and Atlanta fairs in Germany and the US held last week.

According to a Pakistan Carpet Manufacturers and Exporters Association (PCMEA) news release issued here on Monday, the exporters booked orders worth $9 million at the Domotex fair and $14 million at the Atlanta fair.

Tender

Indonesia has shown interest in buying 1,00,000 metric tons of Pakistani rice in new single 50 kgs net PP/PJ bags, EPB announced here on Monday.

The EPB has received an international tender from the Government of Supplies Department, Indonesia, in this behalf.