"Yes, we are reviewing our export performance in
last five months and are in process of drawing up a new strategy to
consolidate on our gains," a happy Chairman of Export Promotion
Bureau Tariq Ikram told this correspondent by telephone on Monday.
The EPB Chairman was confident of surpassing $10.4
billion export target by June next but he was cautious and reluctant in
indicating whether the export earnings will touch $11 billion during the
current fiscal year.
A double digit billion dollar export earnings in any
single year has remained a dream for all the governments in last ten
years. Malik Naeem, the Commerce Minister in Nawaz Sharif's first
government wanted to achieve this target by 1993. But for last five
years Pakistan's exports stagnated around 8 to 9 billion dollars.
Exporters are now confident of touching 11 billion
dollars export by June next. But all of them attach a big if to this
prospect. There is a lurking fear that Iraq-US standoff may flare up and
put the whole Gulf region and world economy into turmoil. There are
apprehensions about the domestic political stability. Any disturbance
could derail the economy and exports could be severely affected.
Tariq Ikram disclosed that the bureau is preparing a
long term export development plan for the US and China. With the US, the
plan will take care of the textile export quota items particularly those
in which desired level headway is not being made. Non-quota items are
also being identified and efforts will be made to market these items in
the US market on sustainable basis.
$133.38/TON HIGHEST BID FOR WHEAT EXPORT
Trading Corporation of Pakistan (TCP) on Monday
received the highest bid price of $133.38 per ton for export of "Pakpunjab"
wheat quality of 2002 crop against its benchmark price of $130 per ton.
The bid, offered by Peter Cremer of Singapore, is the
highest ever price the Pakistani wheat received through tender and could
be seen as a trendsetter for future bid prices.
The state-owned corporation had invited offers from
prospective exporters for 50,000 tons of "Pakpunjab" wheat of
Punjab food department (crop 2002). The corporation had fixed a
price of $130 per ton. However, the highest bidder
has established their bid for 31,000 tons, which according to TCP
sources, would be awarded without calling a meeting of price evaluation
In reply to a query, the sources said as the bid was
over the fixed benchmark price, therefore, the question to evaluate the
bid price did not arise.
LEATHER, MADE-UPS EXPORTS FALL
Export of leather and leather goods registered a
steep fall of around 33 per cent during the month of November 2002,
thereby extending the declining trend which gripped the industry's
exports since the 9/11 incidents.
According to official figures export of leather and
leather made-ups during the month stood at $120.075 million compared to
$179.990 million in the corresponding period last year.
Similarly, in October 2002 exports declined by 18.30
per cent at $165.140 million as against $202.130 million in the same
month last year. In September 2002, the fall was at 13.35 per cent at
$181.220 million compared to $209.140 million in the corresponding
period last year.
EU OFFERS QUOTA, DUTY-FREE ACCESS
The European Union (EU) has decided to offer
"duty free and quota free access" for all agricultural exports
from the World's poorest countries.
It also decided that rich countries will give access
at zero duty to at least 50 per cent of their imports from developing
countries, and a "food security box" including measures to
facilitate development and preserve key food security crops through a
These decisions were taken by the EU at Brussels, the
details of which were released by the EU local office. It was proposed
that the new commitments be implemented over six years for developed
countries and ten years for developing countries commencing in the year
REGISTER UNDER DTRE
The tax authorities have asked businessmen dealing in
leather exports to register themselves under Duty and Tax Remission for
Export (DTRE) scheme.
EC BEGINS DUMPING PROCEEDINGS
The European Commission (EC) has started anti-dumping
proceedings against bedlinen imports from Pakistan. The proceedings have
been initiated on the complaint lodged by the Committee of the Cotton
and Allied Textile Industries of European Community (Eurocoton).
The Eurocoton in its complaint has alleged that
imports of bedlinen from Pakistan are being dumped and thereby causing
material injury to the European textile industry.
BAN ON EXPORT OF LIVESTOCK DEMANDED
The leather industry has appealed to the government
to impose ban on export of livestock till such time exporters or
companies do not set up their own breeding farms.
The tanning and leather made-up industry is presently
faced with acute shortage of hides and skins, which are badly affecting
their exports because of higher prices in domestic market.
A 16.5 per cent increase in export of textile
products in last five months has not brought much joy to Pakistan's
fabulously rich textile tycoons who now blame dwindling international
prices, sinking dollar and rising utilities cost for giving them very
poor return in business.