Dec 11 -
Senegal to purchase Pakistani rice
A 5-member high-level trade delegation of Senegal
is visiting Pakistan next week for the purchase of rice, and is
expected to order the first shipload.
The chairman Rice Exporters Association of Pakistan
(REAP), Shahzad Ali Malik, said on Tuesday that Senegal government
decided in principle to import rice from Pakistan after the Senegalese
Commerce Minister, Khouraichi Thiam presented his report after his
visit to Pakistan last month.
Senegal government's purchase delegation will visit
to finalize the deal after selecting the quality and the price for the
For the first ship, Senegal may not ask for the
Islamic Development Bank support and work on letter of credit or cash
against documents or any other means which satisfies the trading
The first shipload of rice will be followed by
periodic imports of remaining consignments to be imported from
Pakistan. The shipload at the prices agreed will go a long way to
lower the prices in the local Senegal market to CFA 150 per kilo for
100 per cent broken rice.
Shahzad said that the Thai/Vietnamese rice of
similar quality is sold at CFA 200-220 CFA per kilo in the retail
market. The CFA is pegged to the French Franc, therefore indirectly to
the Euro. The rate for one US dollar is equal to CFA 770.
The Senegal Commerce Minister during his visit to
Pakistan on October 30 last inked a memorandum of understanding at
Islamabad with the chairman REAP for the import of three lakh ton rice
from Pakistan, out of their total requirement of five lakh ton.
The final shape will be given to the MOU after
negotiating prices and quality of rice with the office bearers of REAP
in the coming Senegalese visit.
SBP allows export refinance on brown rice
The State Bank has allowed export refinance
facility on brown rice and par (partially) boiled rice in packing of
1-50 kg, said a circular (BSD no 32) issued on Thursday. The circular
gives immediate effect to the decision.
Earlier on September 15, the SBP had allowed export
refinance facility on brown rice and par boiled rice in 1-25 kg
Rice exporters have long been demanding refinance
facility on brown rice and par boiled rice so that they could compete
more efficiently in the international market.
Export of brown rice and par boiled rice
constitutes a small percentage of total rice exports. Brown rice is
exported mainly to the countries in the euro zone and par boiled rice
in Saudi Arabia. Currently India has an edge over Pakistan in rice
export because of cheaper prices.
RAILCOP wins Saudi contract
Railway Constructions Pakistan Limited (RAILCOP), a
subsidiary of Ministry of Railways, has been awarded a contract worth
Saudi Riyal nine million (Rs144 million) by Saudi Railways
Organization (SRO) for End-Cropping/Welding of their 60km main railway
The company has won this project through
international competition. The contract agreement was signed by Khalid
Hammad Al-Yahya, President of Saudi Arabian Railways on behalf of
Saudi Arabian Government and Abdul Waheed Sheikh, Managing Director
Pakistan Railways in Damam (Saudi Arabia) on behalf of Pakistan
Government last Sunday.
The completion period of the project is one year.
It is expected that completion of this project will further enhance
relationship between Pakistan Railways/RAILCOP) and SRO.
Wheat tender date extended
The Trading Corporation of Pakistan (TCP) had
extended a wheat export tender for the third time, but hoped to sell
200,000 tonnes to Iran after recent talks.
A TCP official on Wednesday told Reuters the tender
date was now January 2, instead of a previous closing date of December
7. The original date for the tender for 500,000 tonnes of wheat,
issued in October, was November 16.
Trade relations with Niger
Ambassador-designated to Niger, Pervez Khanzada,
discussed with the FPCCI President various proposals and suggestions
for promotion of trade and economic relations with Niger.
He said that the official trade between Pakistan
and Niger is 1.725 million dollars while the un-official trade is 14.5
He informed that Niger having a 9 million
population has great potential for Pakistani rice, pharmaceutical
products, cotton and textile etc.
Pervez Khanzada said that the neighbouring
countries of Niger i.e. Burkina Faso, Togo are also potential markets
Call to boost surgical exports
Tariq Ikram, Chairman, Export Promotion Bureau, has
called upon the surgical manufacturers to boost exports of surgical
items and assured all possible governmental assistance in this behalf.
Speaking at the Surgical Instruments Manufacturers
Association Tuesday night, the EPB Chairman advised the Surgical
Exporters and Manufacturers that they should participate in 'Trade
Fairs' being held regularly in Latin America, Australia, Japan and
China as such countries were big surgical markets.
Wheat for Afghans at subsidized rates
Pakistan will provide a subsidy of Rs230 million on
the supply of 600,000 tons of wheat to Afghanistan, in order to
facilitate its export to Kabul at the government-to- government level.
Official sources told on Wednesday that the
commerce ministry had submitted a summary to the finance minister,
Shaukat Aziz, seeking his approval for the required subsidy.
10% custom duty on LPG waived
The government has decided to exempt the import of
Liquefied Petroleum Gas from 10 per cent customs duty, said a press
release issued on Sunday.
The companies importing LPG would also pay
corporate tax to the government and in addition additional revenues
would also be earmarked by the government in the form of general sales