Govt plans 16 more zero duty items export
The government has decided zero-rated export of
about 16 more items to Central Asian Republics (CARs) and Afghanistan
via land route, an official source told on Wednesday.
Commerce ministry has worked out the items, which
would be notified shortly by making further amendments in SRO 514
dated July 12, 2001, the source added.
The items which were likely to be allowed at zero
rate of duty included: pesticides, poultry feeds, veterinary
medicines, pulses, surgical instruments, stationary items, process and
packed food, tomato sauce, soft drink, milk cream, mineral water,
honey, tinned fruits, soap detergents, ghee and cooking oil, all
machinery and appliances, all plastic products/goods, aluminium
utensil, pvc pipes and polyethylene sheets, adhesive tapes, all cotton
and woollen textile products, carpet yarn, synthetic yarn and
These items has already been cleared by the Central
Board of Revenue (CBR) to be allowed at zero rate of duty to
Afghanistan and CARs.
The total number of exportable items to Afghanistan
and CARs would now be around 30.
The exporters after fulfilling all the conditions
laid down in the notification would be eligible for the normal duty
According to the source, only those items would be
allowed to be exported for having very bleak chances of smuggling back
into the country.
However, to avoid the smuggling back of these items
into the country, the source said, Pakistan embassy or consulate in
Kabul, Kandahar and Jalalabad will verify the arrival of export
consignments from Pakistan.
Moreover, each individual packing of consignment
should bear indelible and prominent mark "Fo Export only- Not for
sale in Pakistan".
The relevant officials attached high importance to
the duty exemption on the proposed items and were of the opinion that
it would help boost export to CARs and Afghanistan.
ATT import value fell by 99.95pc in Nov
The import value of Afghan Transit Trade (ATT) fell
by 99.95 per cent to Rs0.367 million in November against Rs846.799
million during the same month last year.
Official figures released by the Central Board of
Revenue on Wednesday showed that the total import value of ATT in the
first five months of the current financial year declined by 15.82 per
cent to Rs3.655 billion this year against Rs4.342 billion over the
corresponding months of last year.
On monthly basis, the import value of ATT declined
by 55.65 per cent to Rs0.298 million in October of the current
financial year against Rs0.672 million over the corresponding month of
the last year.
Since September 11 incident, however, it was only
September in which the ATT value had witnessed an increase of 43.87
per cent to Rs1.21 billion against Rs0.841 billion during the same
month last year.
Leather exporters facilitated
The State Bank said on Friday it had relaxed the
export finance scheme for the exporters of leather garments and
Such exporters of leather garments and leather
products who had availed of the scheme up to September 30 but had been
unable to ship their consignments within 180 days have been given 90
more days to do so.
In other words those exporters who had availed loan
for export of the said commodity before September 30, 2001 and had
shipped export consignments after 180 days will not be fined for delay
up to 90 days.
Vessel with soyabean due in Jan
Another vessel loaded with 40,000 tons of soyabean
from US is due in second week of next month. A quantity of 124,000
tons had already arrived in three shipments under 416(b) programme of
aid from USA.
According to TCP sources a quantity of 38,000 tons
had already been sold by the Corporation to solvent extraction units
and commercial importers on Nov 30, 2001, and its lifting is under
Incentives offered to Chinese investors
President General Pervez Musharraf on Monday,
announced certain incentives for Chinese businessmen inviting them to
invest in Pakistan.
The president unveiled the incentives while
addressing the conference on 'Promotion of Trade and Investment
between Pakistan and China' in Guangzhou.
Gen Musharraf said: "We have decided to give a
designated area for Chinese investors, particularly for the investors
from Guangdong, in an exclusive economic zone for setting up projects
in joint ventures with 100 per cent equity".
"We will set up an industrial park for the
development of silk processing industry and allocate an exclusive area
in the export processing zone in Karachi to help Chinese investors set
up industries exclusively for exports," he said.
Pakistan to expand trade network in China
Pakistan will expand its commercial network in
China to explore new avenues of cooperation for enhancing trade
relations between the two countries, said Finance Minister Shaukat
In an interview with APP during his stay in China,
he said since the leadership of the two countries have decided to
build up a comprehensive economic partnership, it has become
imperative to appoint commercial officers in major cities of China to
facilitate the businessmen.
He said President Pervez Musharraf, during his
visit to China, held very productive talks with the Chinese
counterpart to open a new chapter of their economic collaboration,
after having successful and exemplary political and strategic
relations during the last five decades.