Tag: Import

KARACHI - Local automobiles manufacturers have declared government's decision to allow import of reconditioned cars as detrimental to the local industry, fearing that it would trigger a massive rise in unemployment. Talking to the media at the Toyota's "Dream Car Contest" organised by Toyota Central Motors (TCM), Indus Motors Company (IMC) Director Marketing Raza Ansari said that local manufacturers had already notifies the government that import of second-hand cars would hurt

ISLAMABAD - The Ministry of Industries and Production Sunday said the government had decided to import a total 225,000 tonnes of urea aimed at controlling the essential fertiliser's prices in the country. According to the ministry, the urea price has increased from Rs 841 per 50 kg bag in October 2010 to Rs 1060 per in January 2011 by the manufacturers claiming it to be a consequence of the curtailed gas supply and loss in production.
However, they have also made commitment that

ISLAMABAD - LNG Floating Terminal, at Port Qasim, could start functioning if the Ministry of Petroleum and Natural Resources assures uninterrupted supply of Liquefied Natural Gas (LNG), the Senate's Standing Committee on Ports and Shipping was told on Saturday. "We are ready and it is up to the Ministry of Petroleum and Natural Resources to assure supply of LNG," Port Qasim Authority (PQA) Chairman Vice Admiral Muhammad Shafi told the committee.
Ministry of Ports and Shipping

ISLAMABAD - Leading Danish Food Company Castus has commenced import of Pakistani dates from southern of Pakistan to produce healthy fruit bars for children in Denmark. It plans to import around 800 tonnes of dates each year with a total value of $650,000. This is the first time that Pakistan will be exporting dates to Denmark and it aims to develop a new niche for Pakistani products on the Danish market.
Castus is a well known Danish enterprise which has been producing fruit bars

ISLAMABAD - Pakistan is unlikely to import sugar this year because the country will have enough stocks to meet domestic requirements, Food Minister Nazar Muhammad Gondal has said. Pakistan imposes no import duty on white sugar and the government in September waived a 25 percent duty on raw sugar to encourage the private sector to import the sweetener after fears August floods would reduce the 2010/11 crop to 3.2 million tonnes.
But Gondal said that initial estimates suggest the

ISLAMABAD - The Economic Coordination Committee of the Cabinet (ECC) was informed that there would be no negative impact of the recent decision on the manufacture of local cars permitting the import of vehicles up to five years old.
The Finance Minister Dr Abdul Hafeez Shaikh chaired the meeting of the committee. An official source informed that the details provided to the committee said that the import of vehicles up to five years old was allowed in fiscal year 2007-08 in which

LAHORE - To rein in escalating prices of locally manufactured cars, the government has permitted the import of five-year old passenger cars. Though the decision is made in the name of public interest, opinions on its actual impact vary widely. Industry experts are doubtful of its utility and believe it will adversely impact on the local car manufacturing and auto-vending industry, while car dealers term it a welcome step.
Pakistan Association of Automotive Parts Accessories

ISLAMABAD - Upholding its previous decision, the federal cabinet allowed the import of five-year old cars, said Minister for Information Qamar Zaman Kaira here on Wednesday. He was briefing journalists about the decisions taken in the cabinet meeting, which met here on Wednesday with the prime minister in the chair.
"The decision will encourage fair competition and reduce the automobile prices in Pakistan, to benefit consumers", Kaira said. Kaira said a policy would be evolved

KARACHI - The Economic Coordination Committee (ECC) has approved import of over 0.225 million tonnes of urea in order to ensure urea availability in the market. The committee is yet to decide if import would be made through the Trading Corporation of Pakistan (TCP) or from private sectors.
However, it is expected that ECC would allow TCP to import urea as the private sector has shown little interest. The ECC, which had earlier favoured import from the private sector, was likely

DHAKA - Bangladesh's food import bill is likely to rise 15 percent and reach 75 billion taka ($1.0 billion) in the current financial year as the government buys more grain to secure supplies amid soaring prices in global markets.
The original allocation of funds in the national budget for food imports in the financial year 2010-11 was 65 billion taka. "But we need an additional 10 billion taka to import increased volume of grains," Food Director General Ahmed Hossain Khan told

ISLAMABAD - The ministry of commerce has initiated the framing of a comprehensive policy for the import of used cars by considering demand and the recommendations of all stakeholders. "We have to strike a balance between imports and local car production to normalise the prices and ensure that the end consumer stands to gains," a top official of the ministry has said.
It may be recalled that the Economic Coordination Committee (ECC) had earlier given a green signal to the

ISLAMABAD - Pakistani millers oppose sugar imports from India because of fears New Delhi may dump surplus product and hurt the domestic industry, an industry official has said. Pakistan imposes no import duty on White sugar and the government in September waived a 25 percent duty on raw sugar.
This was to encourage the private sugar sector to import sugar to meet feared shortages after August flood damage reduced the 2010/11 crop to 3.2 million tonnes. But government and

ISLAMABAD - The private sector can import both raw and white sugar during the current season, it has been officially learnt. According to official sources, the government has encouraged the private sector to import sugar in the current sugar season. Sources added that the private sector has opened LC's for 1, 53,000 tonnes of both white and raw sugar. It may be recalled that the 25 percent import duty on raw sugar has been removed to facilitate the private sector, while the duty on

KARACHI - In order to restrict the entry of Punjab's wheat into Sindh and ensure the sale of its available wheat stocks, the provincial government has imposed Section 144 on the borders, it has been learnt.
Well-placed sources told Pakistan Today that on Friday, the Sindh Food Department forwarded a letter to the Home Department, asking the latter to impose restriction at the provincial borders and instruct the local police to check the movement of wheat particularly from the

DHAKA - Bangladesh will import 900,000 tonnes of rice to boost its stocks to 1.2 million tonnes in the fiscal year ending on June 2011, Food and Disaster Minister Abdur Razzaque said on Friday.
Rice is the main staple of a population of over 150 million, around 38 percent of whom are poor, living on less than $1.0 a day. "To boost the food stocks and make the market stable, we took the decision to import more grains," Razzaque told Reuters. The ministry had earlier set a target

KARACHI - The Economic Coordination Committee (ECC) is likely to approve the import of over 0.225 million tonnes of urea through the Trading Corporation of Pakistan (TCP) to ensure prompt availability of urea in the market and averting the current urea crisis in the country.
According to source, the ECC was likely to allow the TCP to import the urea given that the private sector has evinced little interest in the matter, sources told Pakistan Today. The meeting of ECC which is

LAHORE - Though most tax related laws in the country are being abused, no law is being flouted with the same frequency as "the personal baggage, transfer of residence and gift schemes (import of vehicles)".
Automobile manufacturers believe that it is not only causing a loss running into billions of rupees to national exchequer but also threatening the viability of the local automobile and vending industry. The recent decision of the federal government (which has been declared