Sri Lanka has reduced import duty on rice from Rs7 to
Rs5 per kg, allowing Pakistani rice exporters to take advantage of the
He said that immediately after the lifting of this
ban, Pakistani exporters were successful in securing orders for the
supply of 7,000 tons of rice from Sri Lankan importers.
Janoo was of the view that the removal of ban on rice
import would pave way for the successful conclusion of Free Trade
Agreement between the two countries as this was the last ditch in the
way of this accord.
"When Commerce Minister Abdul Razak Dawood will
sign FTA on November 5, with his Sri Lankan counterpart, Pakistani
exporters will get a further cut in duty by 50 per cent on the export of
rice to Colombo.
He said Pakistan would be able to export 'simba' rice
to Sri Lanka at $180 per ton. This will cost Rs24 a kg to Pakistani
exporter in Sri Lanka at an import duty of Rs2.50 per kg under FTA.
He pointed out that Sri Lanka was pre-dominantly a
large market for Pakistani rice exporters before this ban. "We were
supplying about 125,000 to 130,000 tons of rice to Sri Lanka which used
to import about 200,000 annually two years ago," Janoo added.
He said that when Sri Lanka floated a tender for the
supply of 40,000 tons of rice two months ago, Pakistan secured export
orders for 34,600 tons.
NORWAY INTERESTED IN PAKISTANI PRODUCTS
The Norwegian importers and trade officials have
shown keen interest in Pakistani products including textiles, sports
goods, surgical instruments.
According to information reaching Export Promotion
Bureau (EPB), Norwegian importers and officials have also appreciated
the quality of these products. These Pakistani products were displayed
at the Norway Fashion Forum at Oslo from October 21.
A ten-member Pakistani trade delegation comprising
exporters of textile made-ups, home textile, towels, ready-made
garments, sports goods, surgical instruments and working gloves is
visiting Norway, Sweden and Denmark from Oct 20-30 to introduce
Pakistani products to Scandinavian market.
WHOLESALE, RETAIL TRADE FALLS TO 2.24PC
Thanks to the economic policies and government
decisions, the wholesale and retail markets are now gradually wearing
ghost look as buyers are deserting because of empty pockets, and there
is not sufficient supply of industrial goods or agricultural
But in this otherwise dismal economic scenario,
public administration and defence has shown an unprecedented growth of
18.2 per cent in 2001-02 from 1.15 per cent rise a year earlier and
subsequently its share in the overall services sector has increased to
14.3 per cent from 12.7 per cent a year ago in 2000-01.
The State Bank of Pakistan's annual report for 01-02
reveals a conspicuous shrinking of the wholesale and retail marketing
both in terms of growth and share in the services sector. Its growth has
dropped to alarming level of 2.24 per cent in 01-02 from 5.24 per cent a
year earlier. Its share in the overall services sector has come down to
29.6 per cent from 30.5 per cent a year ago in 00-01.
DRAWBACK ON EXPORT OF SHOES CUT
The Central Board of Revenue (CBR) has revised
downward the budgetary duty drawback rates on export of various kinds of
The new rates would be applicable from October 30,
2002, by amending the budgetary notification SRO413 issued on June 18,
2001, said a Customs notification.
EPB DRAFT PLAN TO BOOST EXPORT
Minister of state and chairman Export Promotion
Bureau Tariq Ikram said that the EPB had prepared a comprehensive draft
of export development plan which will work as a road map for boosting
Speaking as a chief guest at the launching ceremony
of 3rd edition of FPCCI's booklet on "Trade between Pakistan and
major regional economic grouping," he said 75 per cent of EPB's
funds are spent on export promotional activities, which include holding
of exhibitions and sending of trade delegations abroad.
DUTY ON IMPORTED MILK PLANNED
The government is likely to levy provisional
regulatory duty on import of milk powder aimed at protecting local
industry against the low-priced imported milk, an official source said.
To implement the decision, the government would
require to introduce a provision in the Customs Act, 1969, to enable the
levy on the same.
QUALITY WHEAT BEING EXPORTED
Chairman Pakistan Agriculture Research Council (PARC),
Dr Badaruddin Soomro, said Pakistan has become an important wheat
exporting country of the good quality wheat.
While addressing a two-day Annual Wheat Conference,
at PARC Auditorium, he said the demand of good quality wheat is very
high and many countries including Iran, Iraq, and African republics have
shown interest in the import of wheat.