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Sep 03 - 09 , 2001

TCP accepts bids for wheat export

The Trading Corporation of Pakistan (TCP) has accepted the offers for the export of 168,000 tons of wheat at a price ranging between $106.50 to 105.50 per ton.

TCP chairman Syed Masood Alam Rizvi told APP on Tuesday that price evaluation committee has accepted bids of five foreign buyers for a total quantity of 168,000 tons wheat.

He said that these buyers had also indicated willingness to bid additional quantity of 128,700 tons of wheat. The TCP price is $105.50 for each ton. Their reply is expected to reach TCP by Wednesday, he added.

Calling it a big achievement, TCP chairman said arrangements are being taken to ensure the supply of quality wheat to these buyers.

Rizvi said that the price evaluation committee has accepted the offer of United Resources, a local agent of highest bidder Ameropa of Switzerland at $106.50 per ton for 25,000 tons of wheat. United Resources has further purchased 25,000 tons of wheat at $105.50 per ton.

National Flour Mills of Dubai has been awarded 52,000 tons of wheat at $105.50 per ton while Peter Cremer of Singapore won 25,000 tons at $ 105.50 per ton.

The TCP has also accepted the offer of Emirates Trading Agency of Dubai for 20,000 tons at the rate of $105.50 per ton and also sold 10,000 tons to Starcom of Singapore at $105.50 a ton.

Mango exports may rise by 25pc

The export of mangoes from Pakistan is likely to increase by at least 25 per cent during the current year as exporters have secured sufficient orders. President, Fruits and Vegetables Processor and Exporters Association, Mateen Siddiqui, said on Saturday that demand for Pakistani mangoes has increased due to hectic marketing efforts.

According to the EPB, the export of mangoes during 2000-2001 was estimated at $16.54 million, showing an increase of 43 per cent over 1999-2000. Pakistan exported 53,443 tons of mangoes during 2000-2001.

Trade volume with Iraq reaches $70m

The volume of trade between Pakistan and Iraq had reached $70 million, said Pakistan ambassador to Iraq during a meeting with the LCCI SVP on Thursday.

Manzar Shafiq told Farooq Iftikhar that Iraq was desirous of increasing the current trade level. Baghdad was specially interested in import of rice, wheat, tractors and medical supplies, he said. However, opportunities could also be explored for export of electric fans, cables, GI pipes, polypropylene and jute bags, he said.

The envoy suggested that LCCI members should participate in the Baghdad International Trade Fair being held in November to further explore the market.

Great scope for Pakistani products in Mauritius

High Commissioner of Mauritius in Pakistan R. Dwarka has said that Pakistani products are in great demand in Mauritius, but there has been no proper arrangement for it.

For this purpose he discussed the idea of single-country exhibition of Pakistani products at Mauritius with the office-bearers of FPCCI on Tuesday.

The exhibition will open new avenues for the Pakistani products in Mauritius, he added.

The single-country exhibition will open new avenues for the Pakistani exporters and manufacturers to penetrate the Mauritius market which is basically import oriented.

PTCL, US firm sign hi-tech service pact

A hi-tech service agreement was signed on Tuesday between Pakistan Telecommunication Company Limited (PTCL) and M/s ABS Corporation (Inc) of the USA on Voice Over Internet Protocol (VoIP) Pilot Project.

Mr Iftikhar Ahmed Raja, Member Technical, signed the agreement on behalf of the PTCL while Mr Derik Lee Jones, Co-Founder and Sr VP, Corporate Strategy, signed the accord on behalf of the ABS.

Speaking on the occasion Akhtar Ahmed Bajwa termed the event historic and hoped it would fulfil expectations of both customers and the shareholders. "By this agreement we will be able to plug in the grey areas," he added.

EPB to set up network of women exporters

The Export Promotion Bureau will establish a network of women exporters for continuation of programmes and projects developed for women entrepreneurs. This was stated by EPB vice-chairman Ejaz Qureshi in his inaugural address at a seminar while highlighting the need of bringing women into the mainstream of the country's economy to ensure prosperity.

The seminar was organized by the EPB at the conclusion of WEXNET, an exhibition for women entrepreneurs and exporters on Friday. The First Women Bank, Small Industries Corporation, FPCCI, KCCI and the Training Institute funded by the EPB are the key partners of this institutional arrangement. The EPB will work as the secretariat and focal point of WEXNET.

Textile machinery import

Site Association of Industry chairman Zakaria Usman has appreciated the statement of commerce minister Abdul Razak Dawood that Pakistan is contemplating the possibility of allowing the import of textile machinery from India.

In a statement issued on Saturday, the Site body chief said that this step would assist those industrialists who desire to get the European branded machinery from India at a much affordable prices.

Polyester yarn exports fall

Pakistan's polyester yarn exports dropped by 32.18 per cent in terms of dollars and 26.39 per cent in terms of quantity in the first month of the current fiscal year as compared to the corresponding month last year.

The decline in the manmade fibre yarn is attributed to general economic slowdown across the globe that has brought the world GDP down by two per cent as well as high prices of polyester fibre in the domestic market that has made Pakistani exports of polyester- based products uncompetitive in the foreign markets.