The first meeting of the sectoral committee on raw
cotton of the board was presided over by convener of the committee Gohar
The committee noted with concern that the production
target of 10.07 million bales as compared to the estimated mill
consumption of 11.4 million bales, for the season 2002-2003, shows a
deficit of 1.3 million bales.
As a result of this huge deficit, the committee felt
that the country will have to foot a huge bill on import of raw cotton.
In order to avoid such a situation the committee
strongly recommended that highest priority might be given to increasing
production, through research and administrative measures, with aim to
save valuable foreign exchange.
The committee discussed in details the cotton policy,
crop estimation, month wise stock taking of production, import and
export of cotton, problems of cotton growers and ginners, and assessed
future quantity, cotton standards.
It has been also recommended that for improving
cotton quality and to control contamination, Cotton Standardization
Ordinance may be re-promulgated before the commencement of next cotton
season. Similarly, it was emphasized that cotton research should be
focused on the future requirements of raw cotton of the domestic textile
industry in terms of quantity, quality and requirements of long staple
and extra long staple cotton.
The convener of the committee Gohar Ejaz said that
the government has constituted sectoral committees of Federal Textile
Board so that different aspects of the textile industry could be
analyzed in detail.
CONSORTIUM GRANTED LICENCE FOR EXPLORATION
The government on Wednesday granted a petroleum
exploration licence to a joint venture of local and foreign companies to
undertake exploration activities in Sukkur and Khairpur districts of
The joint venture comprising OMV of Austria, Lasmo
(MP) of Italy and Pakistan Petroleum Limited (PPL), a local public
sector company, would hold 33.33 per cent shareholding each. It would
carry out exploration activities in South-West Miano-II block No 2668-5,
spread over an areas of 1240.77 square kilometres.
The three companies also separately signed petroleum
concession and joint operating agreements. OMV would be the operator of
the joint venture.
The joint venture is required to carry out 200 line
kilometres of seismic survey and drilling of one exploration well during
the first phase of initial term of three years with a minimum
expenditure of $5.1 million.
COTTON DEMAND PUT AT 12M BALES FOR NEXT YEAR
The domestic cotton demand would be around 12 million
bales for next year. This figure was worked out in a meeting on Tuesday,
which was presided over by Abdul Razak Dawood, Federal Minister for
Commerce and Trade, and attended by representatives of All Pakistan
Textile Mills Associations (APTMA).
The minister assured the APTMA members that cotton
growers are being provided a number of incentives to produce more
cotton. The incentives included support prices and financial incentives
for contamination-free cotton so that in addition to fulfilling domestic
demand, a substantial quantity of qualitative lint be available for
exports, he said.
TARBELA DAM TO BE FILLED BY NEXT MONTH
Tarbela Dam, the largest water reservoir of the
country received 162,000 cusecs water on Tuesday and release remained
higher than inflow of 200,000 cusecs.
According to Indus River System Authority (IRSA),
water position will further improve by this week at Tarbela and Mangla,
owing to the impact of snow melting and the expected rains of monsoon
season, according to Met Office.
Official data released by IRSA, said water level at
Tarbela was recorded 1447.84 ft which was about 79 ft higher than the
dead level of the dam 1369 ft and at Mangla 1194.60 ft which will be
filled within a week to full capacity of 1202 ft.
The spinning sector of textile industry has shown an
impressive growth during the fiscal 2001-02. This was observed in a
meeting with All Pakistan Textile Mills Association chaired by Commerce
Minister Abdul Razak Dawood.
The meeting noted that the performance of the textile
industry during the last fiscal generally was in line with the growth as
visualized in Textile Vision 2005.
LIVESTOCK SECTOR GETS RS415M ALLOCATION
The federal government has allocated Rs415 million to
strengthen the livestock economy under a multi-dimensional package to be
completed over a period of three years.
This is the largest outlay for the livestock sector
that constitutes 9.4 per cent of the national gross product and 37.5 per
cent of agricultural value-added. During 2000-01, its contribution to
the exports earnings amounted to Rs53 billion - 12.34 per cent of total
foreign exchange earning.
Green Earth Recycling is probably the only industry
of its kind and size in the country that recycles used tetrapaks to
produce chipboard as well as converts discarded shopper bags into
plastic wood to take care of the increasing problem of solid waste in
the urban areas and depleting forests resources of the country.
Chipboard produced by the GER is marketed as green
board while plastic wood as green plastic lumber because of their having
been recycled from plastic and tetrapak waste.