Nov 12 - 18, 2001
EU to increase textile imports from Pakistan
The European Union is sticking to plans to increase
textile and clothing imports from Pakistan as of January 1, 2002
despite objections raised by Portugal and Spain, EU trade chief Pascal
Lamy said on Monday.
"We will ensure that necessary decisions are
taken so that trade opportunities for Pakistan start next year,"
Lamy said following talks with EU foreign ministers.
"We do not expect a delay in our legislative
procedure which requires approval of the EU textile plan by all 15 EU
governments and the European Parliament," Lamy said.
The EU trade chief insisted that the textile deal
with Pakistan was based on "reciprocal access," with
Pakistan committed to lowering its tariffs on EU imports in exchange
for increased market opportunities in the Union.
Asked if the agreement with Pakistan could become a
model for other textile-exporting countries including India, Lamy
said: "No agreement is a precedent."
Portugal has voiced worries that the expected rise
in Pakistani exports of textile and clothing could hurt its domestic
European textile exporters are also up in arms
against Lamy's "Trade for Peace" package and have accused
the trade commissioner of turning his back on the European textile
"This is a flagrant example of European
textile and clothing interests being sacrificed to serve a wider
purpose," said a statement issued by Euratex which lobbies for
the European textile industry.
Export of new crop rice having an estimated value
between $350 to $400 million in the world market is in doldrums as
exporters are reluctant to enter into foreign contracts owing to
highly volatile dollar/rupee parity, rice exporters said.
After first October's free fall of dollar against
the rupee when the dollar on a single day shed 140 paisa — or more
than 2 per cent of its value in open market and threw off 50 paisa or
about 0.8 per cent of its value in the inter-bank market the parity
between both the currencies, thereafter, remained highly volatile.
CBR to set up export facilitation centres
The Central Board of Revenue has decided to
establish three export facilitation centres (EFC) one each at Lahore,
Gujranwala and Sambrial collectorates to facilitate the exporters.
The exporters will now get all
facilities/assistance under one roof in a very congenial environment,
which will start functioning by the end of December, an official
source said on Wednesday.
The EFC aimed at facilitating the exporters by
speeding up the processing of export bills through one window
A two to four hours daily interruption in electric
supply due to loadshedding is rendering industry incapable of meeting
even those export orders that have been cut down drastically after
September 11 attacks on the US.
According to chairman, Council of Karachi's
Industrial Associations (CKIA), Dawood Usman Jhakoora, North Karachi
industrial area comprising over 2,000 units, had been hit hard by the
KESC's unannounced loadshedding. Almost all the industries in North
Karachi area virtually come to halt for at least eight hours daily due
to feeder breakdown and tripping, causing heavy losses to the
industries and exports.
Iraq sends requirements for wheat
Iraqi Grain Board has sent a detailed
specifications to Trading Corporation of Pakistan (TCP) about import
of wheat from Pakistan.
This was stated by the chairman, Trading
Corporation of Pakistan (TCP), Syed Masood Alam Rizvi, while talking
to APP on Saturday.
He said that these specifications will be provided
to Pakistan Agriculture Supplies and Storage Corporation (PASSCO) to
ensure compliance. "They are the suppliers of wheat and they must
have these specifications," he said.
Pakistan, Sri Lanka trade
A 14-member trade delegation from Pakistan led by
Tariq Ikram, Minister of State and Chairman, Export Promotion Bureau,
visited Sri Lanka from October 29 to 30 , to explore avenues of
enhanced bilateral trade between the two countries.
The delegation comprised businessmen, manufacturers
and exporters of rice, fresh fruits, spices, confectionery, tractors
and agricultural machinery implements, pharmaceutical products,
motorcycles, bulbs, fluorescent tubelights, jewellery & general
ladies items and information technology (IT) from leading business
houses in Pakistan.