03 - 09, 2002
IMPORTS FROM INDIA DECLINE BY 12 PER CENT
Pakistan's import from India has declined by over
12 per cent during the July-March period of the current financial year
in comparison to the same period last year.
Official sources told that the suspension of air,
Samjhota train and bus services between the two states since January
1, 2002, resulted in decline of bilateral trade. It may be added that
freight trains are in operation even after the suspension of air, bus
and road links.
Officials were of the opinion that the prevailing
tension at the borders could further deteriorate the bilateral trade
between the two countries.
On the other hand, Pakistan's export to India had
registered a growth of 7.38 per cent during the July-December period
of the current financial year to Rs1.802 billion against Rs1.678
billion during the same period last year.
While imports from India increased by 17.87 per
cent to Rs6.383 billion during the first six months of the current
financial year against Rs5.415 billion during the same period last
Official document available showed that Pakistan's
imports from India during the July-March period stood at Rs8.479
billion this year against Rs9.662 billion during the same period last
year, showing a decline of 12.24 per cent.
And during March this year imports from India
declined by 33.01 per cent to Rs964.066 million against Rs1,439.158
million during the same month last year.
On the other hand, Pakistan's total exports to
India registered a marginal growth of 1.67 per cent to Rs2.509 billion
during the July-March period of the current financial year against
Rs2.468 billion during the same period last year.
On monthly basis, exports to India declined by
21.61 per cent during March this year to Rs200.697 million against
Rs256.041 million during the same month last year.
SINDH TO SET UP EXPORT DESK
Sindh governor Mohammadmian Soomro has said on
Tuesday, an 'export desk' will be set up at provincial level which
will serve as one-window facility for addressing exporters problems
they face in different departments.
He said that no country could sustain its economy
without having aggressive trade beyond its geographical boundaries and
capturing markets around the world and maintain them is a difficult
The governor during his visit to Pakistan Hosiery
Manufacturers Association (PHMA) house assured that all out efforts
would be made to resolve problems confronting export trade. He said
only higher exports could rid the country of debt burden and manage
its budget deficit.
DRAWBACK RATES REVISION UNDER STUDY
The government is considering to revise the duty
drawback rates on export of textile products downward from the next
Official sources in the Central Board of
Revenue(CBR) told that in consultation with the All Pakistan Textile
Manufacturing Association (Aptma), the tax authorities were working
out new duty drawback rates mainly on viscose, acrylic, nylons, modals
The official said that the decision was taken with
a view to rationalising the same in accordance with the latest
incidence of import duties and customs and freight values of the input
EDIBLE OIL IMPORTS MAY FALL BY 20PC
Pakistan edible oil imports could drop by at least
20 per cent if the government goes ahead with its plan to raise sales
tax on imports in the next federal budget, an industry official said
Pakistan annually imports about 1.4 million tons of
edible oil products, led by palm oil, mostly from Malaysia, to meet a
domestic demand of 2.0 million tons.
BLACK TEA'S INCLUSION IN SMUGGLED GOODS LIKELY
The government is likely to include black tea in
list of notified goods within the meaning of smuggling from the next
Official sources told on Tuesday that black tea was
not included in the list of notified goods, which could attract the
smuggling related provisions of the customs act.
Currently, the officials said that if a smuggler
was caught, he/she could not be prosecuted due to exclusion of black
tea from the ambit of notified goods.
WEIGHT, PACKING STANDARDS FOR MANGO EXPORT
Customs has implemented "weight and packing
standardization" to prevent exports of ineligible items in export
packing of mangoes from Pakistan. Officials said on Wednesday that the
new rules will be implemented from June 1, 2002.
Counterfeit cigarettes, compact discs (CDs) and
mobile phones were being exported for the last two years in the
packing of mangoes to European destinations.
CHINESE BIKES INVENTORY BUILDING UP
Four assemblers of relatively cheap Chinese
motorcycles are reporting inventory build up because the Sindh Excise
and Taxation has stopped registration of these two wheelers for the
last many weeks bringing a halt to sale.
For the last three months consumers are enquiring
about these motorcycles in the market but cannot buy it due to non-
registration of these bikes by the government department. A sizeable
stock of these bikes are piled up at the showrooms.
PTCL SIGNS TWO PACTS (FINANCE
Pakistan Telecommunication Company (PTCL) has
signed two agreements with M/s ZTE Pakistan and M/s Alcatel Pakistan.
Under these agreements the projects would cost Rs1,379m for expansion
of NDW Transit (national network), local exchanges, improvement of
Universal Internet Access, Mobile coverage, international gateway
exchanges to expand and improve PTCL services and installation of
240,000 new telephone lines.