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COVER STORY
AMERICA STRIKES BACK

Title 42.jpg (41918 bytes) Secretary of State Colin Powell accompanied by other US officials will be holding an important meeting with Pakistan leaders on Tuesday. The participants will take stock of the situation posing enormous problems to Pakistan as a result of US-led campaign against Taliban in Afghanistan. Though return of normalcy in the region depends on the end of US-led campaign against Afghanistan, Powell says that the important question was not the duration of the current campaign but its outcome. From Pakistan's point of view it is however very important that war comes to an end at the earliest

 


EXPORTS
Pakistan is feared to loose a substantial foreign exchange due to US war against neighbouring Afghanistan. Increased insurance and freight rates and a weakening dollar have pushed the cost of exports. In addition, export orders from the US and the EU have come to a trickle and are feared to dried out in the coming months. PAGE takes a closer look.


QUOTA RESTRICTIONS
Pakistan has been assured that quota restriction will be eased and duties will be reduced on textiles and clothing products. It seems that now that only ceilings will be enhanced. However, this is not the key issue. The real problem is convincing the buyers to place orders with Pakistani exporters which cannot be resolved without active participation of governments of importing countries.


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