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June 04 - 10, 2001

Pakistan urged to enter into Chinese market

Pakistan should endeavour to enter into the Chinese market after it secures the membership of WTO. This was stated by the State Bank Governor, Ishrat Hussain while delivering the keynote address at seminar on "Pak-China relations in 21st century" organized by the Pakistan Institute of International Affairs on Wednesday. The seminar was chaired by Fatahyab Ali Khan, Chairman PIIA.

"If we just have 1 per cent share of the Chinese market, $2.5 billion will be added to our export earning," said the SBP governor adding that "there is a huge scope for making way into Chinese market, especially after China secures WTO membership, which will dismantle many tariff barriers."

He hoped that this would be a better Chinese assistance to Pakistan than loans. He called for establishing joint ventures by the Pakistanis in China and vice versa, as this will bring technology, create markets and lead to work ethics, which are the basis of Chinese success story.

Lauding the historical bonds of Pak-China friendship, Hussain emphasized on making effort to neutralize the influence of the Western countries in the international organizations, by asking China to support Islamabad's endeavour for getting a fair deal from these organizations. He appreciated Chinese integration into global order and noted the Beijing had created four different zones with required facilities to boost its exports.

The Chinese Consul General Lin Shanglin recalled Pakistan's support in its bid for the UN seat, providing airway leading to rest of the world and supporting China's interest on human rights, Taiwan and Tibet. He said that China is ready to cooperate with Pakistan in meeting the challenges in the age of globalization.

Deep-sea fishing allowed

The federal government on Saturday decided to allow deep-sea fishing but under strict vigilance and a tough punitive regime to safeguard the interests of small fishermen and to check incidence of poaching.

The decision was taken at a presentation given by Chairman National Fisheries Development Board Shafi Niaz to Chief Executive General Pervez Musharraf at the Chief Executive Secretariat.

Federal Minister for Agriculture Khair Mohammad Junejo, Chief of Naval Staff Admiral Abdul Aziz Mirza, Chief of Staff to the Chief Executive General Ghulam Ahmed, ministers of agriculture and fisheries of Balochistan and Sindh, director general Maritime Security Agency and other concerned officials attended the presentation.

Installation of Global Positioning Satellite (GPS) monitoring system on-board every ship operating within the Exclusive Economic Zone of Pakistan has been made mandatory to keep strict watch on the vessels, Mr Niaz later told newsmen.

$10.2 billion export target

State minister and chairman Export Promotion Bureau (EPB) Tariq Ikram said on Thursday that the exports target for the next financial year has been fixed at $10.2 billion.

Talking to APP he said, "we hope to exceed the mark and aim for at least a goal of $10.5 billion through aggressive marketing and diversification." Regarding the export target of $9 billion fixed for this year he said with two months still left they should be able to cross the mark. "If we are able to achieve 7 per cent of the target in the remaining two months of the financial year, we should obtain our goal," he said.

So far he said the country's total export has been eight per cent higher this year compared to the corresponding period last year. The EPB chief said while exports had been 10 per cent higher in products as rice, leather, sports goods, carpets and surgical goods, the increase in textiles had been only between 5 to 10 per cent, which he described as a 'setback'.

EPB to hold textile fair

The Export Promotion Bureau (EPB) in collaboration with textile associations is holding Textile and Clothing Fair TEXOFAB 2001 on October 24-27, this year at Expo centre, Karachi.

Mango growers

The Export Promotion Bureau (EPB) is planning to arrange visits of three or four mango growers' delegations to South Africa and Mexico to observe the modern techniques in post-harvest handling of mango, an official said.

The EPB has invited names from the mango growers of main production areas, in Sindh and Punjab, especially its southern part, for participation in the delegation.

Manila to remove ban on Pakistani rice

A two-member team of experts from Manila will arrive early next month to inspect rice processing facilities prior to declaring Pakistan a source country for rice import, official sources said on Tuesday.

Sources said 'once Pakistan is declared a source country', export of Pakistani origin rice to Philippines would become possible. About five years ago, Manila imposed a ban on import of Pakistani origin rice after inferior quality rice through third country was exported, which resulted in delisting of Pakistan as the country of origin for the rice import.

Wheat contract goes to private shipping line

Trading Corporation of Pakistan (TCP) has awarded a contract worth $1.79 billion for the shipment of 100,000 tons of wheat to Baghdad to a private shipping line after the PNSC failed to meet the tender conditions, official sources disclosed on Saturday.

On Friday, the TCP awarded the contract to the lowest bidder from private shipping lines after the national carrier (PNSC) was given a chance to exercise 'first right of refusal,' sources said.

Though the PNSC quoted high freight charges of $22.95 per ton for the shipment of wheat to Iraq but was given a chance as per government policy to match the price with the lowest bid of $17.85 per ton given by a private shipping line.