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Blue prints for export target of $14B / 2003

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    Blue prints for export target of $14B / 2003

    $9.4B exports is peanuts when you compare it with small countries like Malaysia. Malaysia exports $70B/year. I am sure Singapore, S. Korea and Taiwan exports are even higher.

    (from business recorder)

    .......KARACHI : The Export Promotion Bureau is providing leadership, direction, pro and re-active facilitation, to an aggressive national drive for sustainable growth of Pakistan's foreign trade, achieving a level of US $14 billion by fiscal year 2002-2003 as a minimum.
    .......Based on an evaluation of world demand of goods and services, the strategy aims to prioritise those where Pakistan has or can achieve a competitive edge, sources from within or outside Pakistan and facilitate achievement of the desired levels of profitable exports viz a 'demand led' strategy, as opposed to the previous 'supply led' efforts, observed Chairman EPB and Minister of State Mr Tariq Ikram in an interview with PPI here on Monday.
    .......The six-point strategy is: 'Enhance world market shares of core products categories via increased penetration of our best performing core product categories in top 10 respective countries. Selectively increased penetration of core product categories in next top 10 countries.
    .......Core categories are textile garments, raw cotton yarn (all types), fabrics, garments, made-ups (excluding towels), towels, art silk & synthetic textiles. Other core categories rice, leather-products, sports goods, carpets & wool, surgical instruments and petroleum products.
    .......Pursue enhancement of manufacturing and marketing capabilities and efficiencies to achieve value addition and increased competitive strength to core product categories.
    .......He said: "It calls for pursuing with national alignment and focussed resource application, selected developmental export opportunities where Pakistan currently enjoys, or can achieve, a strong competitive edge."
    .......The identified categories are fisheries, poultry, fruits, vegetables and wheat, IT software and services, marble and granite, gems and jewellery, engineering goods, chemicals, healthcare, general services.
    .......He said the strategy also emphasises maximising exports to countries where Pakistan currently or potentially enjoys special relationships. These will initially be: China, Iraq, Saudi Arabia, Libya, Syria, Egypt, Turkey, UAE, Iran, Oman, Qatar, Malaysia, Indonesia, Central African Republic.
    .......It aims at enhancing market access based on proactive and innovative management of current or emerging world economic-trading blocs and bilateral trading arrangements. These will initially be pursued with EU, ECO, SAARC, OIC, and bilateral trading arrangements.
    .......Mr Tariq Ikram said: "It is essential that national alignment of all stakeholders be ensured to the need for an aggressive national drive, a quantum leap in exports and also export strategy and availability of an enabling environment.
    .......An 'Export Hype' needs to be created to ensure desired mindset and action by all stakeholders.
    .......In alignment with the strategic product, geographic needs and international trading regulations, skills, training-technical facilities be enhanced among all stakeholders, especially exporters, Pakistani missions, EPB, financial institutions and SMEDA. "On a medium-term basis, success of Pakistan's exports must heavily rely on strength of our small and medium size exporters,'' he noted.
    .......He said: "Pakistan's exports (inspiration) target for the current fiscal 2001-2002 is US $10.1 billion, while financial target would be US $9.8 billion. Of this US $6.4 billion (5.8 percent more than last year) is for textile garments, US $2.65 billion (9.7 percent above last year) from core products- rice, leather, sports, carpets, surgical products, molasses, meat and meat preparations, petroleum products, US $795 million from developmental categories, fish US $160 million, fruits & vegetables US $165 million, chemical products US $230 million, IT services US $80 million, gems & jewellery US $55 million.
    .......An overall increase of 58 percent in development categories products is expected in fiscal 2001-2002 over last year. US $625 million are expected from remaining products, which will be 21 percent more than last year.
    .......He said cost of export finance has gone up to 13 percent from original 8 percent. Sales tax and duty drawbacks recovery for exporters is still a challenge. "I expect the Finance Ministry to soon release funds to help liquidity of exporters."
    .......He said: "International market prices are still going down which will hurt Pakistan in per unit price." Moreover, drought, which affected the country's agricultural product, may affect exports, he added.
    ......."We have to find solutions. We expect cotton crop will give us good exports. Export of raw cotton worth US $125 million is expected this year which is less than last year, as its price may not be attractive this year. We expect aggressive growth in cotton fabrics, towels, and other made ups, increase in artificial silk, synthetics."
    .......According to Mr Tariq Ikram, Pakistan will have petrol for export due to setting up of PARCO refinery this year. Leather products exports will continue to grow strongly. He underlined need for improved manufacturing and quality control in good developmental products.
    ......."There is need to minimise effects of difficulties and maximise opportunities. There is availability of export credit finance in abundance. Export credit finance scheme facility is available. A window of US $150 million can be utilised by exporters to borrow in US dollar and pay back in same currency," he stated.
    .......EXPORTERS'DIFFICULTIES: He spoke of the rules being implemented by the government to minimise difficulties of exporters to get refund of Sales tax and duty drawback.
    ......."We are trying to strengthen export culture by working closely with the Central Board of Revenue. Export facilitation committee has been strengthened to resolve day to day problems of exporters. Complete case of exporters is sent to the committee 15 days before its meeting so that decision is taken," he added.
    .......He further said: "The EPB is also bringing warehousing scheme. Pakistani companies can jointly set up company outside the country to market their products. EPB will contract warehouse space to cost less and allow exporters to use it abroad to enhance export base there like ready stocks. The Bureau will also contract office space and pay rent for use by Pakistani small and medium size exporters for six months.
    .......Mr Tariq Ikram stressed the need to focus on maximising Pakistan's market share in major markets with major items as well as enhancing capabilities of manufacturers to get value addition. "We need to focus on products having world demand. This is necessary to have competitive edge," he observed.
    .......He said: "Financial incentive plan for exporters is coming up based on level of exports performance, products increase and diversification. On point rating scale, EPB will find three top winners in each product category."
    .......He disclosed that foreign buyers and businessmen can now get visa at Karachi airport in first phase and later extend it to other Pakistani international airports.
    .......He said EPB has been restructured with specialisation of products and geography for most core developmental products, besides creation of region-wise desks. "We are getting funding from Asian Development Bank to implement restructuring and reorganisation of EPB in an effective manner. We are using IT project for EPB's automation. EPB website has been revamped and a new one will be on display by end of August."
    .......He said Pakistan's exports in fiscal 2000-2001 were US $9.158 billion with addition of
    .......US $18 million export of IT products. "We could not achieve US $10 billion, as rice was abundantly available in the world market. However, our world market share has marginally increased in world market, including the United States. Except for three items, all other goods exports to the US rose in fiscal 2000-2001. Overall share of developmental items in total exports increased and that is product diversification we are looking for."
    .......He mentioned China with whom Pakistan has special relationship and said there was rise in exports to Beijing by US $160 million in fiscal 2000-2001, which is 71 percent above last year. Exports to Saudi Arabia were of US $193 million, 25 percent above last year. In Iran breakthrough was made in rice exports last year.
    .......Likewise, exports to Iraq have increased from US $5 million to US $65 million in terms of contracts signed during the last one year. Of these goods worth US $20 million were exported to Iraq by June 2001. It is a major breakthrough in diversifying exports to Iraq in terms of rice, wheat, wooden doors, car batteries, GI pipes, stationery, bathroom sets, pharmaceuticals, etc In Africa Pakistan share has moved from 4.2 percent of total exports to almost 5.4 percent. To Middle East states Pakistan's exports rose from 11.6 percent to 14 percent, he added. -PPI

    Thanx for sharing this info,...
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    A Faith that cannot survive collision with the truth is not worth many regrets.


      Impressive news. It's all up and up for the Pakistani economy know.