The facility would be allowed only to those importers
who would fulfil the following conditions:
The importer of CKD buses shall be made through Smeda;
the importer shall, at the time of import such CKD buses, make a written
declaration on the bill of entry to the effect that the CKD buses have
been imported under this notification with exemption from payment of
customs duty leviable under the first schedule to the Customs Act, 1969.
The exemption on such CKD buses would be granted only
if it was covered by a special serially numbered certificate issued by
Smeda addressed to the collector of customs indicating the required
Smeda should specify the quantities and particulars
of components in such knocked down condition as were in accordance with
the approved deletion programme; the importer should, at the time of
import, submit an indemnity bond in the form as set out by the CBR that
the CKD buses, should be used for the sole purpose as specified by Smeda.
The CKD buses imported under this notification with
exemption from payment of customs duty through Smeda should not be
transferred to any other person or company except after obtaining
necessary permission from Smeda.
RAW MATERIAL IMPORT ALLOWED FOR TV SETS
The Central Board of Revenue (CBR) has allowed the
importers that have no manufacturing facility to import raw materials
and components used in manufacturing of television sets.
The decision was notified by making amendments in the
budgetary notification No SRO358 issued on June 15, 2002.
The government had earlier allowed only the
manufacturers to import raw materials and component for manufacturing of
TV sets. To utilize the ideal capacity in the TV industry, the
government allowed the importers that did not have their own
manufacturing facility to import raw materials and components for TV
sets and get them manufactured from the vendors.
IRAQ TO BUY 50,000 TONS WHEAT
Iraq has agreed to buy at least 50,000 tons of
milling wheat from private Pakistani exporters at 218 euros per ton,
traders and government officials said.
They said the deal might eventually be much bigger,
with exporters saying Iraq had expressed interest in buying 150,000 tons
and a Pakistani official saying tenders for the export of 200,000 tons
of wheat for Iraq would be issued next month.
Exporters had quoted a higher price to Iraq but
eventually accepted a counter offer, they said.
"Iraq made a counter offer of 218 euro per ton
last week," Hamid Gharib, an exporter approached by the Iraqi grain
authority, told. "We have accepted their offer."
Baghdad plans to import around 500,000 tons of wheat
under the 13th phase of the UN oil-for-food-programme.
IRAN ASKS PAKISTAN TO SET STANDARD FOR RICE
Iran has asked the commerce and finance ministry to
set a "standard" for the Pakistani rice, to be met by
Pakistani exporters of rice as per requirement of the Iranian importers.
This was stated by the leader of 36-member Iranian
trade delegation, Dr Freydoon Entezari in a meeting with office-bearers
of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on
December 24 at Islamabad.
He said that Irani importers are facing problems of
standard and quality of Pakistani rice when the commodity is tested at
Iranian lab, says a press release of the FPCCI.
SINGAPORE INVESTORS VISIT TO BOOST TRADE
A high-level investors' delegation of Singapore is
arriving on January 12 for a week-long visit to Pakistan to promote
trade and economic relations between the two countries.
The delegation, comprising 25 top businessmen and
investors of Singapore, would be staying in Pakistan till January 17 to
explore opportunities for increased cooperation with their Pakistani
BANKS TO PROVIDE LOANS TO SMES
Emphasis has been laid on adopting flexible
collateral management system (CMS) for providing funds to small and
medium enterprises (SMEs) exporters during their shipment phases to keep
them competitive in the world market.
The issue was raised in a tripartite meeting
organized by the Export Promotion Bureau (EPB), at its advisory centre
between the representatives of State Bank of Pakistan (SBP), commercial
banks and small and medium enterprises.
TRADE POLICY MAY BE REVISED
The government is likely to revise the trade policy
2002 by announcing more incentives for the enhancement of exports later
Official sources told before announcing the
incentives, the commerce minister, Humayun Akhtar Khan would discuss the
trade policy with the senior officials of the commerce ministry on
The minister recently in a news conference has shown
his displeasure over the trade policy 2002 and much delay in its