The decline in September 2002 was around 53 per cent
as compared to September 2001. And decline in exports during July-Sept
this year was nearly 43 per cent compared to July-Sept of 2001.
Fawad Ijaz Khan, chairman, Pakistan Leather Garments
Manufacturers & Exporters Association (PLGMEA) in statement issued on
Wednesday, said that the association had been predicting this decline in
exports since November 2001 and brought it to the notice of the
authorities concerned for taking precautionary measures to check the
However, the callous and indifferent attitude of the
authorities has resulted in decline in exports of leather garments and
as a result massive shutdown in the industry has rendered around 20,000
He warned that if the government does not pay heed to
the suggestions of the industry for arresting the declining trend,
another 10,000 workers will inevitably lose their jobs in the next two
months. Most of the leather garments exporters are facing liquidity
crisis and don't have enough funds to pay salaries of workers and
mark-up on bank loans.
Fawad assured that there is still a considerable
demand for leather garments in the international markets but they can
only capture those markets if their prices are competitive and lower
than their main competitors like China.
The PLGMEA chief requested the ministry of commerce
and finance to hold urgent meetings with the representatives of the
DUTIABLE IMPORTS UP BY 9.69PC
The value of dutiable imports went up by 9.69 per
cent to Rs103.758 billion during the first quarter (July- September) of
the current financial year against Rs94.586 billion during the
corresponding period of last year.
Official figures released by Central Board of Revenue
(CBR), on Tuesday showed that the value of total imports increased by
7.783 per cent to Rs172.481 billion during the July-Sept period of
2002-03 against Rs160.026 billion during the same period last year.
On the other hand, the value of duty free imports
stood at Rs68.723bn during the same period this year against Rs65.44bn
during the same period last year, showing an increase of 5 per cent.
The total revenue from the dutiable imports during
the first quarter stood at Rs13.353 billion this year against Rs10.832
billion during the same period last year, showing an increase of 23pc.
1M TONS WHEAT EXPORT LIKELY
Pakistan is expecting to export around one million
tons of wheat during the current fiscal, but the commodity procured by
Passco would be restricted for local consumption only.
Commerce Minister Abdul Razak Dawood told a news
conference on Monday that "there would be no more export (of wheat) from
Passco. This is for local consumption only." He said that around 500,000
tons wheat would be exported by December 31. Of this, commitments had
already been secured for export of 150,000 tons.
The governments of Punjab and Sindh would be flouting
tenders for the export of 100,000 tons and 50,000 tons, respectively,
within next few days, he said. The Trading Corporation of Pakistan would
offer its first tender for wheat export in November this year, he added.
FTA WITH S. LANKA
The Commerce Minister Abdul Razak Dawood said on
Thursday that Pakistan would sign the Free Trade Agreement (FTA) with
Sri Lanka on October 24, and it would become effective within 30 days of
USED MACHINERY IMPORT ALLOWED
The federal government decided to allow import of
second-hand machinery aimed at boosting industrialization and job
A high-level meeting with Minister for Finance
Shaukat Aziz in the chair decided that an initial depreciation will be
allowed on the import of used machinery from the United States, Europe
and Japan. "This was an old demand of the importers and today we decided
to accept their demand to allow import of second hand machinery," said
the minister for finance.
SBP EASES RULES FOR EXPORT FINANCING
Are you an exporter of hosiery and knitwear or rice
or hand-knotted carpets? If you are...then you can get concessional
export financing during this fiscal year equivalent to two thirds of
your exports in last fiscal.
Earlier exporters of hosiery/knitwear; rice and
hand-knotted carpets were to get during this fiscal year a concessional
export financing equal to 50 per cent of their exports in the last
IRAQ KEEN TO BUY 0.5M TONS MORE WHEAT
Iraq has shown keen interest in importing another
500,000 tons of upgraded wheat of 'hard winter' quality from Pakistan,
official sources said.
Iraq's intention to buy half a million tons from
Pakistan follows successful completion of earlier contract of one
A cargo vessel recently offloaded around 30,000 tons
of wheat at the Iraqi port, replacing the earlier one, has successfully
brought to an end the earlier contract of 0.1 million tons won by
Pakistan under UN programme of 'oil-for-food' for Baghdad.
Pakistan Software Export Board (PSEB) will take 18
top notch software companies to participate in the world's third largest
IT exhibition , GITEX Dubai, to be held from October 13-17.
Pakistan's participation in GITEX, will benefit
local software industry to attend an international IT expo and display
their expertise, products and services.