The
quota regime, being a blessing in disguise for Pakistan, is expected
to completely phase out by December 31, 2004. The economic managers
are required to plan and to implement policies enabling the local
manufacturers to compete globally. At the same time, the players have
to revamp the existing facilities and add new capacities which should
come on line before end of the year 2003, if Pakistan has to retain
its share in the global trade of textiles and clothing.
OIL
In
the wake of 5 times increases in prices of POL products, the chain effects on
prices in general and the transport and electricity in particular causing great
hardships for the poor. Though the government has assured to review the prices
downward in the coming month of March, yet the bitter experience the people have
to go through it is hard to make them believe the government's offer. It has
been the tradition that once the price of any thing goes up it never comes down
in Pakistan.
SUGAR
Permission
to import sugar from India has become a major concern for the sugar industry in
Pakistan. The sugar industry feels that high price of sugarcane and levy of the
sales tax on sugar industry resulting in enhancing the cost of production and
rendering the industry incompetitive to the dumping price of the Indian sugar.
They have urged the government either to exempt the sales tax or increase the
duty from 15 to 40 per cent to provide a level ground to the local industry.
