Imports of electrical machinery and apparatus
together with power generating machinery cost the country $73.35
million, accounting for 17.37pc of the bill for entire machinery group,
as against 13pc during the same period of previous year, when their
import had been worth $42 million.
The imports of road motor vehicles continued their
upward trend with an increase of 43.67pc over the previous year. The
amount of foreign exchange spent by the country on these was $74.33
For the first time in a long time, the import of
office machines, including computers, etc., indicates some decline. The
foreign exchange spent on this items amounted to 32.40 million, down
14.61pc from previous year.
Of surprise is also the 29.54pc rise in import of
foodstuffs ($160.90 million) which accounted for 8.46pc for the total
import bill, as against 7.18pc in the comparable period of previous
In this group, the import of 36,300 tons of wheat is
rather puzzling in the face of official claims about a bumper crop.
Another factor in the rise in food import bill is the
continued dependency on edible oil imports. Over 50pc of the food import
bill is on account of import of palm oil alone (81.24 million) —
albeit at an increased rate.
In the petroleum group — the No 1 claimant on
foreign exchange resources though — the import at $500.98 million
declined by 4.45pc over the previous year. In this group, particularly
noteworthy is the slight let-up in import of crude oil.
JULY-AUG TEXTILE EXPORTS RISE BY 20PC
Exports of textile manufactures leaped 20.64 per cent
during July-August 2002, as compared to corresponding period of previous
Their export figures, according to the detailed data
about foreign trade released by the Federal Bureau of Statistics on
Tuesday, totalled $1.15 billion. Consequently, the manufactured textiles
further improved their share in the exports of manufactured items from
about 71 per cent to 73 per cent for the period under review.
The mercantile exports of Pakistan during the
two-month period amounted to $1.71 billion — 17.02 per cent more than
the comparable period of previous year.
VALUE OF DUTIABLE IMPORTS UP
The value of dutiable imports up by 11.56 per cent to
Rs70.936 billion during the first two months of the current financial
year against Rs63.586 billion the same period last year.
Official figures released by Central Board of Revenue
(CBR), on Wednesday showed that the value of total imports surged by
8.05 per cent to Rs116.442 billion during July-August (2002-03) as
compared to Rs107.765 billion.
On the other hand, the value of duty-free imports
stood at Rs45.50 against Rs44.17 billion the same period last year, an
increase of 2.99 per cent.
The total revenue from the dutiable imports during
July-August 2002-03 stood at Rs8.454 billion against Rs6.504 billion
last year, an increase of 29.98 per cent.
TRADE GAP WITH SAARC SHRINKS
Trade deficit with Saarc — countries fell by 52.84
per cent to $17.413 million in 2001-02 against $36.929 million during
the financial year 2000-01.
Official figures, showed that Islamabad trade deficit
with Bangladesh declined from $99.931 million in 2000-01 to $73.398
million in the year 2001-02, with India from $179.689 million to
$137.294 million during the same period and with Sri Lanka it rose to
$43.665 million in the year 2001-02 from $39.965 million in the year
CARPET EXPORTERS MEET RAZAK
Commerce Minister Abdul Razak Dawood has said that a
long-term strategy is being evolved to bring substantial growth in the
export of hand-knotted carpets.
This he said at a meeting with the members of carpet
manufacturers and exporters association on Wednesday, said an official
EXPORTERS SEEK STABLE CURRENCY RATE
Commerce Minister Abdul Razak Dawood on Tuesday said
that he would like to see the currency rate stabilizing instead of
strengthening so that the exporters could plan export of their products.
He was asked whether he would advise the State Bank
governor to intervene through the inter-bank market mechanism to contain
strengthening of the rupee against dollar.
DIFFICULT YEAR FOR NWFP TRADE
The NWFP trade and business experienced further
recession during the last one year failing to materialize hopes of
getting benefit from the rehabilitation process undertaken in
Afghanistan during the post-Sept 11 situation.
"In original, it appeared to be a really
difficult year," said Bashir-ud-Din, a local trader involved in
import and export business with Afghanistan.
The benefit, said Imtiaz Khalil, an industrialist,
the local industrialists were expecting from the under progress
reconstruction works in the war-ravaged Afghanistan could not be turned
COMMODITY TRADE AFFECTED
Pakistan's commodity trade was terribly disrupted
after the terrorist attacks on the World Trade Centre and Pentagon on
Sept 11 last year, as the major business centres were in virtual turmoil
and the consequent drying up of import and export channels for several
Pakistan's foreign trade also remained standstill for
about four months as importers and exporters were more worried over the
security problems rather than trading.