May 21 -
Jun 03, 2001
60,000 tons LPG export from next month
The government has allowed export of over 60,000 tons of
Liquefied Petroleum Gas (LPG) from next month to avoid local price fall and
ensure profitability of the companies.
Secretary Petroleum M. Abdullah Yousaf told on Thursday that
newly established Pak-Arab Refinery Limited (Parco) has been allowed to float a
tender next month for export of the surplus product.
He said till surplus production, which is expected to
continue for a year or so, 5,000 tons LPG per month would be exported. It was
estimated that 60,000 to 70,000 tons could be exported during the year, he said.
He said that LPG price would probably be $270 per ton at the moment, which meant
that Pakistan would be able to earn foreign exchange worth $16 million through
The secretary said that the government has also decided to
allow oil marketing companies (OMCs) to fix the prices of diesel and petrol from
next month when the government announced last quarterly review based prices of
petroleum products. The secretary did not agree that price fixation by the OMCs
would affect the general consumers saying it was not possible in the today's
world where international prices are easily available.
When asked that LPG consumers in far flung areas like Azad
Kashmir and Northern Areas were still facing short supply even in the summer
season, the secretary said that it was in this background that they had convened
a meeting of LPG companies on Thursday and directed them to invest in the
infrastructure system to improve supply mechanism.
He said that the OMCs were already importing petroleum
products from abroad at their own but the government fixed prices. Now the
government would pull out of the whole pricing process and take charge of only
ensuring the quality and standard and leave pricing system to the market forces.
The secretary declined to comment on the question whether or
the government would reduce over 52 percent taxation on petrol in the coming
0.65mn bales of cotton exported
The private sector has exported 0.650 million bales of
cotton, worth about Rs8 billion, under a diversified plan to Far Eastern
According to official figures released by the EPB, up to May
15, 2001, the total shipment comprised 0.480 million bales of the new crop and
0.167 million bales of the old crop.
"Despite steep decline in world prices, our lint is
being sold at much higher rate," a leading exporter said. "The main
reason behind the premium export price is the quality of lint we offer to
foreign buyers," they said.
The New York cotton futures on Thursday were quoted at 42.66
and 45.20 cents per lb for the July and new crop settlement.
Exporters have slowed down their export drive to keep local
prices competitive for the textile industry for further value-addition.
Indian rice being branded Pakistani in Gulf
The delegation of Pakistan Rice Exporters' Association,
currently visiting the Kingdom, has accused India of exporting inferior quality
rice to Saudi Arabia and the other Gulf states by branding them Pakistani rice.
They accused some of the Dubai-based traders of mixing rice
from India into the Pakistani Basmati rice, in collusion with some Indian rice
exporters, before diverting it to other Gulf states. Saudi Arabia is the largest
basmati rice market in the Gulf.
Some members of the Pakistani delegation also claimed that
labels on Pakistani rice bags were also changed at times to give the buyer an
erroneous impression that they originated from India.
Molasses export drops
The export of molasses has dropped in first ten months of
this fiscal owing to poor harvest of sugarcane, exporters said on Wednesday.
Around 704,870 tons of molasses have been exported against 0.8 million tons
during the same period last year, fetching around $29 million at an average
price of $40 per ton in the world market. According to a molasses exporter, the
country has produced around 1.4 million tons of molasses this season as against
yearly average production of 2.2 million tons achieved up to 1998. They further
said that around 0.2 million tons of carry-over stocks are still lying with many
Expo centre in Lahore
The chairman, Export Promotion Bureau (EPB), Tariq Ikram on
Tuesday said that the bureau will construct a big expo centre in Lahore at a
cost Rs350 million to Rs400 million.
The Export Market Development Fund (EMDF) meets here on
Tuesday to consider measures for boosting exports by 100 per cent at $20 billion
by the year 2005 and review the export performance for the current fiscal,
commerce ministry sources told on Monday.
Pakistan is targeting $20bn exports in 2005 and $30bn by 2010
from the current year's of $10bn. The current textile exports of around $6bn are
projected to touch $14bn in 2005 and $20bn in 2010. Leather exports, now at $500
million, are estimated to double at $1 billion in 2005 and triple at $1.5
billion by the year 2010. Engineering exports are targeted to touch $1 billion
in next four years from the current level of $200 million and further jump to
$2.5 billion in 2010.
Guidelines for exporters
Pakistan's Embassy in Tokyo has prepared guidelines for
Pakistani exporters willing to export their products to Japan.
According to these guidelines, released by Export Promotion
Bureau (EPB) here on Saturday, there are number of contacts in Japan,
information facilities on various websites and libraries, list of Japanese
importers, etc. Pakistani exporters can benefit from free facilities and useful
Japan External Trade Organization (JETRO) trade directory
provides list of importers in Japan and their addresses, contact persons. This
directory is now available with EPB on CD-ROM and in book form.