Jan 29 -
Feb 04, 2001
Goods worth Rs100.6 billion imported duty-free
Pakistan imported Rs61 billion duty-free POL
products in the first half of the current financial year against
Rs12.3 billion in the corresponding period last year.
This phenomenal duty-free consignment plus five per
cent reduction in the highest rate of duty on all goods and special
concessions to the local industry this year resulted in an increase in
duty-free imports by 86.2 per cent.
Total value of all imports made in this period this
year, however, increased by only 31.3 per cent, say final figures
compiled by the Central Board of Revenue (CBR).
Last year's total imports in the period valued
Rs198.3 billion while this year that stood at Rs260.3 billion. The
duty-free imports in last year's July-December valued Rs54 billion,
this year Rs100.6 billion.
Imports of POL products has gone up this year by
123 per cent, from Rs38 billion to Rs85 billion, showing increase of
The second largest duty-free imports this year were
of machinery valued at Rs16.4 billion, out of total import value of
machinery which was Rs34.6 billion, meaning that 47 per cent machinery
The duty-free imports of yarn and fabrics valued
Rs3.2 billion, out of total import value at Rs7.9 billion.
Chemicals imported duty-free this year valued at
Rs2 billion, out of total import value of Rs25.4 billion. Last year
the chemical import position was as follows: total import value Rs24.9
billion; duty-free import Rs2 billion.
Duty-free imports of iron and steel this year were
of Rs1.5 billion, out of total import value of Rs8.3 billion. Last
year these products' import position was total import value Rs9
billion; duty-free import Rs2 billion.
NWFP expects rise in leather products exports
NWFP government expects to surpass at the close of
the current financial year the $11.6 million exports of leather and
leather products made last year from NWFP.
At the close of the first six months of the current
financial exports of leather good from NWFP stood at $6.33 million
thereafter it was expected that the year would end up with exports [of
leather goods] more than the last financial year, the NWFP minister
for industries Owais Ghani said.
Exports of leather and leather products recorded
improvement by over $10 million in the 1999-2000 financial year when
compared with the exports made in the 1998-99 financial year.
The exports of leather and leather products from
the NWFP rose from $1 million in the 1998-99 financial year to $12
million in the financial year ended on June 30, 2000.
PARCO negotiating with Iran for oil export
Pak Arab Refinery Limited (PARCO) is involved in
negotiations with the Iranian government for the export of motor
gasoline, source said on Monday.
If these negotiations are finalised, Pakistan will
be among the petrol exporting countries of the world.
PARCO officials said they were confident about
meeting the entire 300,000 tons petrol demand of Iran from the giant
PARCO refinery set up at a cost of US$886m at Mahmudkot near
Muzaffargarh, and commissioned only last August.
A detailed presentation on this petrol export
potential was given to the Petroleum Minister, Usman Aminuddin,
recently when he visited the city.
"We are involved in sorting out details that
include the pricing, supply schedule, laying down of infrastructure
for storage and other related matters" a well placed source in
PARCO informed, while expressing confidence about reaching an
agreement with the Iranians.
'Karachi lags behind in software export'
Although, 85 per cent of software companies are
functioning in Karachi, but the city is found nowhere on export map.
However, Lahore alone, is generating 80 per cent of software export
Barely, six companies have the privilege to export
70 per cent software, revealed the Secretary, Pakistan Software Houses
Association (PASHA), Khurram P. Rafiq during an e-Pakistan lecture
series, organized by the Computer Society of Pakistan (CSP) and
e-Pakistan Initiatives at a CSP office on Wednesday.
He said exporters in Karachi are not contributing
their due share despite the fact that 85 per cent of software houses
are located here, coupled with 70 per cent Internet service providers
(ISPs) and 58 per cent Internet merchants accounts.
Subsidized imports disallowed
All import goods with cost of production slashed
due to excessive refund, rebate and drawback have been disallowed into
Pakistan from January 1, 2001.
Under the Countervailing Duties Ordinance-2001, the
National Tariff Commission is directed to follow stipulated guidelines
for determining the over-rebated, refunded products in the exporting
countries. These guidelines are meant for calculating the amount of
subsidy allowed through tax and duty rebate/drawback concessions.
Nobody, probably, could have imagined a couple of
years ago that Pakistani entrepreneur could make deeper inroads into
the protected toy markets of the western countries and change the
playing habits of their children.
The major breakthrough on the toy export front was
achieved without the absence of matching technology. The world
producers of toys for children are more interested to sell their
products rather than transfer of technology to the developing
Pakistan, Japan Business Forum
Pakistan-Japan Business Forum is being formally
launched on February 6, to further increase cooperation among
businessmen of the two countries.
This was stated by the President, Japanese
Association of Commerce and Industry and Managing Director, Mitsui
Company, Masami Mizukami in a meeting with the SITE Association of
Industry. He was accompanied by Ms Asako Okai, head of economic and
development section, Embassy of Japan and Sardar Wasim Khan, senior
economic consultant, Embassy of Japan.