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July 23 - 29, 2001

Mills import 0.377 million cotton bales

Several textile mills have imported some 377,000 cotton bales in 10 months starting from September 2000 to June 2001, says All Pakistan Textile Mills Association (Aptma).

Aptma officials told on Tuesday that its member mills imported half a million bales of cotton of 170 kg each during September 1999 to August 2000. They asserted that the total cotton to be imported by the mills during September 2000 to August 2001 would be equal, if not greater, than that imported in the preceding 12 months.

They said "several mills imported contamination-free or long staple cotton to fulfil the needs of their (foreign) buyers to produce finer yarn. Yet, they said, some mills had also imported standard cotton as well.

The Aptma, in concert with the government, farmers and others, is also trying hard to encourage production of contamination-free cotton in the country. It has also promised the farmers to give a premium of Rs200 per maund on contamination-free cotton. "We have also assured them (the growers) that a premium would also be paid on low contamination cotton as well. It's being done to encourage production of contamination-free cotton," maintained acting Aptma chairman Anjum Saleem.

He said "development of contamination-free cotton would take a few years".

He said "we'll be doing very well even if we are able to grow 200,000-250,000 bales of contamination-free cotton in the next three to four years. He said the local production of some 2-2.5 million bales of contamination-free cotton would take care of the needs of the domestic industry.

Saleem said the impact of economic slowdown in the American as well as European markets on Pakistan's exports would be felt this year.

NWFP imports drop

The annual import of NWFP during 2000-01 has dropped by 29.43 per cent against the preceding fiscal 1999-2000.

A official statement showing progressive collection of import duties for 2000-01 and 1999-2000, reveals a considerable decline in annual import of the province.

Total collection through import duties (Customs & Sales tax) in 1999-2000 were to the tune of Rs12,407.34 million. Whereas, in 2000-01, the import collection reduced to Rs8,867.71 million.

According to break-up, the collection of gross and net customs duties registered at Rs4,163.30 million and Rs3,918.53 million, respectively in fiscal 1999-2000. However, in June 2001, collection in these two heads tumbled to Rs2,931.53 million and 2,648.64 million, respectively.

The average decline in customs duties is calculated at 29.59% (gross) and 32.41% (net). Similarly, import duties in shape of sales tax were registered at Rs2,163.08 million (gross) and Rs2,162.43 million (net).

Yarn export picking up

After several lean years, export of cotton yarn is picking up as local spinners have recaptured part of their market share by offering quality products at competitive rates.

According to official figures released by the Statistics Bureau, the total share in Hong Kong market of cotton yarn rose to 5.36 per cent or 2,325 tons during the January-April 2001. Hong Kong's total imports of cotton yarn during this period stood at 43,348 tonnes.

"A few years back, Hong Kong has been our major trading partner in cotton yarn because of flourishing weaving and knitting industry there," a leading spinner claims. But with its handing over to China, some of the leading textile industries shifted to neighbouring countries including Taiwan and set pattern of cotton yarn intake by the new entrepreneur changed which affected Pakistani export.

Cars sale up by 27pc in 2000-01

Except for trucks and tractors, the entire auto sector shows improvement in 2000-2001 as sales of cars, bikes and light commercial vehicles (LCVs) were up by 27.7, 25.4 and 41 per cent respectively.

A total 39,167 locally assembled Japanese and Korean cars were sold in the outgoing fiscal 2000-2001 as compared to 30,671 units in 1999-2000, thanks to 40 to 41 per cent increase in sales through leasing and financing schemes as compared to 20-25 per cent in last fiscal coupled with some corporate buying and arrival of new Japanese and Korean small cars in the market.

Towel exports rise

The towel exports topped the list among cotton manufactures by registering 32.34 per cent rise in quantity and 24.11 per cent in dollar term value during the outgoing fiscal (2000-01) over the previous year, official figures disclose.

However, per unit price in dollar term of total exports of all category of cotton manufactures registered a nominal rise of 1.47 per cent, giving strong indication that per unit price of exports during the year dwindled drastically.

Export of tents and canvas (tons), on the other hand declined by 6.99 per cent and in dollar term the earning shrank by 17.70 per cent as per unit value was down by 11.52 per cent during the period under review.

Mango exports

The export of mangoes from Pakistan is in full swing and the country is likely to surpass last year's export figures.

President Fruits and Vegetables Processor and Exporters Association, Mateen Siddiqui, said on Saturday that demand for Pakistani mango was rising due to hectic marketing efforts and publicity abroad.

Mango is being exported to Far Eastern and European destinations, Scandinavian countries, Middle East and Gulf, he said. He said mango shipment started in the middle of May with the export of well-known Sindhri variety and it will continue till October 15. Presently, 'Chaunsa' from Multan is being exported.