22 - 28, 2002
AUTO PARTS EXPORTS
There is a lot of confusion over foreign exchange
earnings from auto parts as the Federal Bureau of Statistics (FBS)
gives $4 million figures but auto parts makers claim $27 million.
According to FBS, Pakistan exported auto parts
worth four million dollars during July-March 2001-2002 as compared to
$2.7 million in the same period of 2000-2001.
On the other hand, senior members of Pakistan
Association of Automotive Parts and Accessories Manufacturers (PAAPAM)
say that when auto parts exports fetched $27 million in July-June
20002001 then how the FBS exports figures could give a single digit
In July-March 2001-2002 period, auto parts exports
have already fetched over $27 million and "we aim to achieve our
target of $34 million by the end of this fiscal," they told on
They said exports of auto parts to mainly Europe
and the US have been on the rise. In 1998-1999, exports stood $4
million only, rising to $12 million 1999-2000.
A senior member of PAAPAM said FBS figures are
surprising as there may be some problem of classification of items.
The FBS official, said that they take export
figures from Customs. However, a senior official of Pakistan Revenue
Automation Limited (PRAL), Pakistan Customs, said that the FBS figures
are actually based on the statistic copy (the last form of the
shipping document comprising of seven forms) prior to the examination
of the exportable items.
Clear export earnings come out from the last
examination document which also determines the actual quantity of
goods, he said. Furthermore, the FBS uses STC code for evaluating
items while the Customs relies on HS Code for product specification.
60,000 TONS WHEAT BEING EXPORTED TO IRAQ
More than 60,000 tons of wheat is being shipped to
Iraq in two vessels late this month and next month following an
approval of the samples by the Iraqi authorities, officials said on
These two shipments replace the ones Iraq has
rejected last year on the grounds that the wheat does not conform to
Sources said that a two-member team of Pakistan
Agriculture Storage and Supplies Corporation (PASSCO) carrying wheat
samples recently visited Baghdad for getting approval from the Iraqi
The Iraqi government, after testing the samples in
a laboratory, gave its consent because the wheat was fulfilling their
specification in term of its contents and properties.
Pakistani wheat, which is of "hard
milling" quality met the Iraqi specifications, which demands 28
per cent gluten and 14 per cent moisture. However, Baghdad gave some
relaxation by allowing average gluten of 26 per cent.
Pakistan and China can join hands to further
develop their textile industry, increase export of garments and other
cotton- based products, said a senior member of China's Textile
In an interview on Monday, he lauded Pakistan's
potential in the textile field and said "we are prepared to share
our experience and expertise to further enhance production and export
of garment products."
He said Pakistani firms are allowed to divert their
export to Chinese growing textile market, by establishing business
linkage with the Chinese business and fashion houses and meeting
necessary legal requirements. There is also a need to launch a
coordinated marketing offensive by participating in the exhibitions
that are being held time to time in major cities.
Over 90 companies comprising all segments of the
industry are participating in the Pakistan Leather Show 2002, being
held Friday, at Karachi Expo Centre.
EPB TO EARN
The Export Promotion Bureau expects to earn Rs2.060
million per annum on letting out Karachi Expo Centre (KEC) to a
private company having international affiliation.
MEP FOR TOWEL FIXED
The Quality Assurance Committee (QAC) has fixed
floor price (minimum export price) for towel export at $3.50 per
kilogram fob Karachi, with a flexibility of reduction of 15 per cent.
The representative of textile associations dealing
with towel, members of QAC on towel and members of Quota Supervisory
Council in a recent meeting unanimously decided to start price check
with effect from April 10, 2002. As a result of this meeting it was
also unanimously decided to fix MEP for category 9 of towel for
exports to European Union (EU) countries.
The price of towel exports to EU would be minimum
of $3.50 per kilogram fob Karachi with a flexibility of reduction of
15 per cent.
MILL BUYING REMAINS AT LOW EBB
Mill buying on the cotton market remained at a low
ebb on Wednesday as perceptions of comfortable future supplies and
higher imports seems to have provided spinners a breathing space to
play safe at least for the near-term.
Although official spot rates did not show any
change for the third session in a row, in physical trading prices fell
each session as weaker links among the ginners having a little holding
capacity are forced to sell to meet their bank demands, dealers said.