TRADE

 

Dec 02 - Dec 15 , 2002

 

1.INTERNATIONAL

2. INDUSTRY

3. FINANCE

4. POLICY

5. TRADE

6. GULF

 

BEDLINEN CONTAINERS AWAITING US CLEARANCE

The containers of bedlinen are awaiting clearance at the United States ports owing to embargo imposed by the US authorities, a senior official told.Although the containers were off loaded at the US ports, they were yet to be cleared for the respective importers causing losses to Pakistani exporters.

 

To resolve the issue, some exporters have approached the Ministry of Commerce, seeking immediate release of seized containers of bedlinen.

The US tax authorities imposed a ban on October 11, 2002, on clearance of bedlinen cloth and on bedsheets on October 23, 2002, after the quota was declared exhausted. However, the Ministry of Commerce was of the opinion that the quota was yet to be exhausted. These containers hold goods specially meant for the Christmas, and if not released, would result in heavy losses to exporters.

Similarly, the official said it was also expected that the US authorities might soon impose ban on import of category 363 (towels). He said the issue would be discussed at length in the first ever proposed meeting of the Pak-US Joint Working Group on Trade and Investment scheduled to be held in Washington on December 10.

According to the ministry, the embargo was imposed due to a discrepancy in the figures of quota utilization by the US authorities. The discrepancy is needed to be sorted out for re-crediting the miscalculated quantities to Pakistan, said the official.

According to the official, last year 2.5 million towels were miscalculated by the US authorities. Of these 0.34 million were later released/re-credited to Pakistani exporters. "This showed that miscalculation had actually taken place last year, which might have happened this year as according to our estimates there was still room for export under this category," claimed the official.

MOC ALLOWS EXPORT OF KINOO IN CRATES

The Ministry of Commerce has finally given a go-ahead signal for export of kinoo in wooden crates. The ministry took the decision on November 22 after examining the case, sources said.

The Ministry of Commerce had earlier advised the Export Promotion Bureau to rescind its instructions issued to the Customs for restricting kinoo exports in wooden crates.

In a fax message to EPB vice chairman on November 22, and its copies sent to Collector of Customs (Exports); director general, Plant Protection Department; and chairman, Pakistan Horticulture and Export Board, the Ministry of Commerce was of the view that the EPB's order, which had disallowed kinoo exports in wooden crates on April 24, cannot be issued under the laws. Such powers for regulating export trade are only derived from the Export Policy and Procedures Order and vest in the Ministry of Commerce.

PAKISTAN TO EXPORT 0.1M TONS OF DATES

Pakistan is set to export a record 100,000 tons of dates during 2002-03 after harvesting a bumper crop this year. The initial production estimates show that Pakistan has produced more than 600,000 tons of dates this year.

Sindh has reported a bumper crop and all the dates processing factories in the province are booked till June 2003, says Director Export Promotion Bureau (EPB), M E Jalbani.

Pakistan exported 77,471 tons of dates worth $27.6 million during 2001-02 which was 3.1 per cent less than the previous year.

Jalbani said that export of dates was declined in 2001-02 due to fall in production and slow exports to neighbouring India, a major buyer of Pakistani dried dates, due to tensions on the borders.

He said that the dates processing factories are working round the clock to meet the demand. He hoped that the export of dates would touch a record of 100,000 tons this year as exporters have got sufficient orders.

GOLD, SILVER IMPORT PROCEDURE

The government allowed the import of gold and silver in bulk and has done away with the condition of seeking approval of the ministry of commerce for its import.

The decision was announced through a customs notification amending the budgetary notification of SRO 358 issued on June 15, 2002.

Currently, the import of gold and silver in bulk was allowed only to the companies registered and authorized by the ministry of commerce on payment of customs duty at the rate of $1 per 11.664 grams for gold and $2 per kg for silver.

PAKISTAN, TURKEY BUSINESS COUNCIL

Pakistan and Turkey are working to evolve a mechanism of product diversification to boost the value of investment, industry.

These views were expressed by Federal Minister for Industries and Production Liaquat Ali Jatoi at a meeting with Turkish Ambassador to Pakistan Kemal Gur.

DRAWBACK ON PVC CABLES ALLOWED

The Central Board of Revenue has allowed the facility of duty drawback on export of PVC insulated cables aimed at increasing its exports.

The repayment of customs duty on export of the same products would be effective from November 23, 2002, said a customs notification.

27PC DUTY IMPOSED

The National Tariff Commission issued its final determination on its investigations into charge of dumping of tinplate of thickness of 0.5mm and of width of 600mm or more imported from South Africa, imposing a definitive anti-dumping duty of 27.33 per cent of CIF value for a period of five years.

DUTY ON BEDLINEN

Export Promotion Bureau (EPB) has sent its recommendations to the Commerce Ministry for effectively handling the expected anti-dumping duty on Pakistani bedlinen by European Union.

The vice chairman, EPB, Ijaz Ahmed Qureshi, told that these recommendations were finalized at a meeting of Quota Advisory Council where all the stakeholders including associations thoroughly deliberated upon the issue.