Dec 18 -
Raw wool losing global business
Pakistani exporters of raw wool are fast losing
international markets to their competitors as heavy lifting of raw
wool by Afghan carpet makers have forced them to cut production.
Besides lack of incentives like export refinance facility leave them
unable to compete their rivals price-wise.
"We are losing market shares in the United
Kingdom, China, Belgium, Japan and India very rapidly due to our
uncompetitive prices," said vice chairman, Pakistan Wool and Hair
Exporters Association (PWHEA), Amanullah Farouq.
"If the downward trend of exports continue,
our export figures will disappear from the statistics prepared by the
Federal Bureau of Statistics (FBS), he told on Thursday.
He said that prices of wool, currently offered by
New Zealand, which were expensive as compared to Pakistan, has fallen
in the last few years, making our prices unattractive in the global
markets. "We offer $1.5 per kg to two dollar per kg but it fail
to click the buyers as they get cheaper wools from New Zealand and
other countries like Australia.
He claimed Pakistani wool still enjoys an edge over
wools of New Zealand and Australia, due to its resilient
characteristics, but it seems that foreign buyers have also now become
price conscious instead of quality.
Pakistan's exports of raw wool, which stood at
Rs528 million in 1996-97, declined to Rs293 million in 1997-98, Rs134
million in 1998-99 and to Rs61 million in 1999-2000. In July-November
2000-2001, exports fell to Rs27 million as against Rs35 million in the
same period of 1999-2000.
He said heavy buying of wool by Afghans in the last
two to three years to make high quality carpets is also one of the
main reasons of slow wool exports from Pakistan. Farouq said that
carpet exports have been showing rising trends since the last few
Wheat at $121 a ton offered to Iran
Pakistan has informed Iran of its readiness to sell
200,000 tons of wheat at $121 per ton against Tehran's quoted price of
Islamabad has also informed Teheran that initially
it would sell 200,000 tons of wheat against its demand of 500,000
Official sources said that the much delayed
decision to fix wheat price at $121 per ton was finally taken by Chief
Executive Gen Pervez Musharraf.
Earlier, sources said, Gen Musharraf was given a
comprehensive briefing on the issue of wheat export and price to both
Iran and Afghanistan jointly by the ministries of commerce and
Iran had earlier rejected Indian offer to buy its
wheat at $110 per ton after reports that New Delhi's commodity was
diseased. Instead it showed interest in buying Pakistani wheat at $118
per ton. However, Pakistan said, it is not ready to sell at less than
$121 per ton.
Kabul emerging market for exports
Afghanistan has emerged as a fast growing export
market for Pakistan's merchandise since the Taliban took control of
Kabul in September 1996. Export earnings have shot up by 7-8 times in
the past four years.
Seafood export up by 10pc
The export of seafood has increased by 10.26 per
cent to $71.394 million during July-November 2000 over the same period
According to EPB sources, the export value has
increased by $ 6.649 million while quantity declined by 7.72 percent
during the same period.
Pakistan exported 37,048 metric tons of seafood
during first five months of the current fiscal year against 40,149
metric tons during same period 1999.
Manufactured exports show decline
The ratio of manufactured exports to total
merchandise exports registered a decline of 1.21 per cent during the
period July-November 2000, as compared to corresponding period of
This was evident from the foreign trade data
available from the Federal Bureau of Statistics, according to which
manufactured exports constituted 87.60 per cent of total exports as
against 88.81 per cent in the period July-November, 1999.
The exports during the first five months of current
financial year totalled $3.71 billion, up 11.64 per cent from last
'Exports behind target'
Federal Minister for Commerce and Industries Abdul
Razzak Dawood has said that the present government is focusing on the
revival and restructuring of the industries like textile, sugar and
rice, with a view to easing out pressure from the trading and business
The minister was speaking at Iftar dinner, hosted
by the RCCI on Monday. He said the business community were frustrated
on account of several reasons amongst which were ongoing tax survey
and lack of confidence in different policies. He said the sectors of
textiles, sugar and rice were adversely affected owing to sluggish
industrial activities and hence the government would give focus on the
restructuring of the industrial sector.
He said during the first five months of the current
fiscal, the country made exports of $3.72bn, indicating that Pakistan
is still $250m dollars behind the target set for the period.
Merchandise exports up
Merchandise exports of Pakistan surged by 11.64 per
cent during the first five months of 2000-01 as compared to
corresponding period of the last financial year, according to the
foreign trade statistics released by the Federal Bureau of Statistics
on last Saturday.
Nevertheless, the trade gap also increased by 26.99
per cent, because imports rose by 14.39 per cent offsetting the
substantial improvement in exports.
Pakistan may sell power to India
Pakistan has confirmed the availability of 300MW of
power for export to India, for 10 years, which could be further
increased to 600 MW depending on the availability, the Rajya Sabha was
Minister of State for Power, Jayawanti Mehta, told Brahmakumar
Bhatt in a written reply that two rounds of discussions had been held
on power supply from Pakistan.