Tag Archives: Export

Pakistan export boom will not repair economy

Pakistan export boom will not repair economy

KARACHI – After a year of unemployment and wondering if his family would be better off if he died, Pakistani textile worker Murad Ali has got the spring back in his step. One of thousands laid off by textile bosses last year, the father of four is now back at work and one of those to benefit from a surge in Pakistani exports in the current fiscal year, which ends on June 30.
Experts say rising global commodity prices, a government decision to prioritise power supply to industry

Export boom will not repair economy

KARACHI – After a year of unemployment and wondering if his family would be better off if he died, Pakistani textile worker Murad Ali has got the spring back in his step.
One of thousands laid off by textile bosses last year, the father of four is now back at work and one of those to benefit from a surge in Pakistani exports in the current fiscal year, which ends on June 30.
Experts say rising global commodity prices, a government decision to prioritise power supply to

FBR to issue revised SRO for 5 export sectors

ISLAMABAD – With exports expected to reach $25 billion in this fiscal year, the government on Friday rescinded its decision to impose general sales tax at a rate of 17 percent on five major export oriented sectors and extended the facility of paying four percent or six percent sales tax, as specified in the conditions.
An official source revealed that the facility was re-granted, as the government was keen to maintain the momentum of $2.0 billion monthly exports. He said that

Traders charter ‘contaminated’ ship for wheat export

KARACHI – The local wheat exporters are playing with fire and endangering Pakistan’s reputation as an exporter by chartering vessels which are also used for the transportation of potentially hazardous cargoes like fertiliser and cement.
One such vessel had to wait at least for four to five days at the outer anchorage of Karachi Port after the consignee surveyors declared, what a stevedoring official called, ‘dirty’ hatches unfit for loading the edible commodity. Sources privy to

Rising shipping charges correspond to export growth

KARACHI – Being cheered by strong growth in exports during eight months of the current financial year, the country’s economic managers also may like to keep an eye on the shipping freight on exports that fluctuates in accordance with international oil prices.
It is feared that increasing political unrest in the oil-rich Middle Eastern and North African (MENA) region will give impetus to rising international oil prices with Brent crude and New York light sweet crude standing,

New SRO brings the supply chain of export industry to complete halt

KARACHI – Confusion and anomalies in the hurriedly issued SRO 231 (I) /2011 dated March 15, 2011 has brought the supply chain of goods manufactured by the five major export based industry of the country grinding to a complete halt.
Speaking to Pakistan Today on Monday, Sindh Industrial Trading Estate (SITE) Association of Industry Chairman Abdul Wahab Lakhani has claimed that the ambiguity inherent in the recently issued SRO which he claims was hurriedly prepared to handle the

ECC permits wheat export of 3m tonnes

LAHORE – Economic Coordination Committee (ECC) of the Cabinet has permitted the export of three million tonnes of wheat in its meeting. Federal Board of Revenue (FBR) in this connection has directed all Customs collectorates to ensure the smooth export of wheat from their respective ports. FBR has directed Customs Collectors to effectively coordinate on daily basis – personally as well as electronically – to ensure that the export of wheat form Pakistan from all export stations does

Hostile climate propels a decline in kinnow export

KARACHI – Pakistan’s kinnow export is likely to slide by around 50,000 tonnes this year against targeted export of 0.260 million tonnes. Sources stated that this decline is triggered by unfavourable climate and less production in the country. Production of kinnow has fallen by a considerable 25 percent in the current season, standing at around 1.4 million tonnes against last season’s production of 1.8 million tonnes.
Talking to Pakistan Today, former All Pakistan Fruit and

Unrest in Middle East hampers export activities

KARACHI – Export promotional activities have been hampered due to the prevalent unrest in Middle Eastern/African countries. Pakistan, habitual of attending international business exhibitions and fairs in respective countries/region, has cancelled visit of various delegations following the uprising in different countries of the two regions.
Traders had been facilitated by the Trade Development Authority of Pakistan (TDAP); however the grave law and order situation in foreign

Gas supply imperative to meet export targets: APTMA

LAHORE – Textile export target can only be achieved if gas supplies remain normal in 2011 but unfortunately industry is not getting gas, said All Pakistan Textile Mills Association (APTMA) Chairman Gohar Ejaz.
He was addressing a press conference at APTMA House on Monday. He said 2011 was declared year of Textile, but unfortunately under current circumstances, it is not possible. He said President Asif Ali Zardari had convened a meeting of APTMA and SNGPL on Tuesday to avoid

Govt fixes export volume for VIP protocol passes at $20 million

KARACHI – Ministry of Defence and Ministry of Commerce have decided to fix the export value of $20 million for issuance of VIP protocol passes at airports to avoid the rush and security risks.
Though almost 200 exporters having the export value of around $10 million have applied for the facility, the two ministries responsible to issue the passes have set a new condition of $20 million export value to enjoy the passes, sources disclosed.
Under the new condition the small

Pak expects huge rice export orders at Dubai expo

KARACHI -Rice exporters from Pakistan have been invited to participate in a big way in the first ever international rice exhibition, “Rice International Conference and Exhibition (RICE) Dubai 2011”, which will be held from May 9 to 11 at Madinatul Jumeirah, United Arab Emirates.
FAM Holding (a conglomerate in the UAE) Chairman Dr Faisal Ali Mousa, while addressing a press conference along with his representative from Pakistan, Asad Sajjad, said that the event would provide an

Meat export surges 15 percent

ISLAMABAD – Pakistan has exported 153,543 animals in the current fiscal year, thus increasing meat export by 15 percent, Minister for Religious Affairs Syed Khursheed Ahmad Shah said on Friday.
Replying to a question raised by PML-N’s Shireen Arshad Khan in the National Assembly, he said that exported animals included 48,680 cattle, 50,000 buffalos, 54,716 goats and 147 camels.
In order to facilitate and encourage livestock export, the government decided that no permit was

Iran ready to export gasoline

TEHRAN – Iranian Deputy Oil Minister Alireza Zeighami said the country had begun marketing plans for the imminent exports of its gasoline, local satellite Press TV reported on Wednesday. Zeighami said that neighboring countries were Iran’s priority, according to Press TV.
The National Iranian Oil Refining and Distribution Company (NIORDC) has issued a permit for the export of one billion litres of gasoline, Zeighami was quoted as saying. He expressed hope that four shipments of

Pakistan initiates meat export to Iran

KARACHI – Pakistan, for the first time, has started export of frozen meat, carrying an international market of $400 million to $500 million, to Iran. Products of the country have successfully created a market in the neighbouring country, sources told Pakistan Today on Tuesday. A Lahore based company, they said, has recently started exporting frozen meat to Tehran.
This was another progress of the Halal food sector of the country after it entered few markets of gulf countries,

Export target for year raised to $22b

KARACHI – Pakisan has revised its export target for financial year 2010-11 and setting the bar at $22billion from an earlier target of $20 billion. This decision has been prompted in view of the record breaking exports exhibited the last three months, culminating in an the garnering of $2.329 billion in January 2011, which is 38.2 percent higher than the level of $1.685 billion seen in the corresponding period last year.
This was stated by Federal Minister for Commerce Mukhdoom

Export deals will hit snags, says Ministry of Commerce

KARACHI – Export deals, worth millions of dollars, are likely to hit a snag as the Ministry of Defence, citing security reasons, is reluctant to issue VIP protocol passes to exporters for receiving their buyers at airports.
Though extended dates of the protocol passes, issued to the exporters, are going to expire by February 9, 2011, both the ministry of Defence and Ministry of Commerce are yet to arrange the new passes despite repeated requests by the country’s exporters,

Top