Safety and Environmental (HSE) Seminar:
Engro emphasises importance HSE practices
KARACHI: Engro Fertilizers hosted the 4th Annual Health, Safety and
Environmental (HSE) seminar which aimed to create awareness among the
participants on the best practices, innovative solutions and creative
ideas on successful HSE compliance.
Appreciating the efforts of Engro Fertilizer Limited on this initiative
and successfully arranging the seminar for the fourth consecutive year,
the chief guest Muhammad Shaharyar Khan Mahar, Minister of Environment
and Alternate Energy, said:
It is initiatives such as Engros HSE seminars, which ensure
that the necessary measures provided in the law such as enforcement,
education and training and technical assistance to embrace safety as
a value are implemented in spirit. Awareness and compliance to these
set of rules ensures the safety and health of every worker. I urge the
industries to come forward and join hands to strengthen compliance HSE
rules and regulations and guarantee development of an HSE compliant
industrial framework. The industries of Pakistan have recognised
the importance of achieving a very high level of performance, demonstrating
well developed occupational safety, health and environment management
systems. Statistics show outstanding control of risk and very low levels
of error, harm and loss over a sustained period of time.
Khalid Siraj Subhani, President and CEO of Engro Fertilizers Limited
said, Engro, which works at the forefront of an industry that
is highly prone to risk and injury, organises these annual seminars
to create awareness in the corporate sector about the health, safety
and welfare of the workforce with an emphasis on long-term impact of
industrial activity on the environment.
Pakistan Chemicals and Dyes Merchants
PCDMA team to sign MoUs with Indian businessmen
KARACHI: A 60 members delegation of Pakistan Chemicals and Dyes Merchants
Association (PCDMA) is heading to India tody to sign various Memorandums
of Understanding with their Indian counterparts.
Najumuddin Chughtai Chairman PCDMA said on Saturday the team during
stay in India till December 12, 2011 would also visit Mumbai, Ahmadabad,
Surat and other cities and discuss promotion of trade between the two
countries. He said during meeting with Indian Dyer and Merchants Association,
the PCDMA would sign accords in connection with chemicals and dyes trade.
He said this tour would benefit traders of both the countries besides
opening up the exchange visits of the business people of both the countries.
makes over 48 laboratory equipments
LAHORE: Pakistan Council of Scientific and Industrial Research (PCSIR)
Research and Development Cell has designed and prepared more than 48
equipment used in different laboratories, sources said recently.
The laboratory equipments are essential components of research and development
organisations, educational institutions and industrial and quality control
laboratories to accomplish their day-to-day task.
The federal government has annually been spending a hefty amount on
the import of equipment from China and western countries, they said,
adding PCSIR had completed a great venture by manufacturing different
scientific laboratory instruments after thorough research while using
They said more than 49 of different instruments/equipment have so far
been designed, fabricated and developed while 768 instruments/equipment
had been supplied to research and development organisations, educational
institutions, industrial and quality control laboratories of the country.
They said end-users tested the PCSIR manufactured equipment and expressed
satisfaction over quality of the products. The council was committed
to providing backup services to its customers on a regular basis. Lahore
PCSIRs contribution to the scientific and industrial sector will
ultimately boost the national economy, besides ensuring huge savings
on import of lab equipment, they added.
and Distribution Centre:
Swisstex Chemicals, Huntsman, make massive investment thru FDC
KARACHI: Huntsman Textile Effects (HTE), a prominent name in international
textile sector, in collaboration with Swisstex Chemicals has established
first Formulation and Distribution Centre (FDC) in Landhi Industrial
Vice President, HTE, Kent Kvaal said in response to the upcoming challenges
and to bring the textile sector back on track, the Huntsman with massive
investment, decided to switch the plants from the United States to
Asian region. He said though they had taken some difficult decision,
hopefully the FDC in the economical hub of Pakistan would significantly
reduce the production cost for their customers.
He said through the FDC, they would bring a 50 percent decrease in
water and energy consumption. Chief Executive Officer, Swisstex Chemicals,
Zain Bashir said through the FDC, local textile sector would get an
opportunity to reduce production cost, besides enhancing production.
President, International Textile Manufacturers Federation (ITMF),
Basheer Ali Mohammad said it was an important event and milestone
for the countrys textile sector. He stressed need to change
the Pakistan and move forward to technical business, instead of commodity.
He said the establishment of the FDC inside the country at this juncture
was a historic event as Pakistan was facing worst conditions due to
Afghan war, resulted in migration of a large number of textile units
to Bangladesh and other destinations. He said it was a great honour
for Pakistan textile sector to be a part of the FDC as it would to
meet the diverting challenges of the industry. It is the first state
of art FDC in the country being established by the Huntsman that brought
local textile sector in rank with the countries rapidly developing
in regard with textile sector. It was the 13th FDC, being established
by the Huntsman across the world.
A fibre expert on textile and cotton sector, Shakeel Ahmad said this
FDC would render the textile exporters and textile industries to decline
the cost of production, which was hitting hard industrial sector currently.
Especially export-oriented industry of Pakistan, which has been confronting
severe crisis of its history, will sure to be benefited with this
Centre, Ahmad maintained. Several textile products manufacturing units
in the country were thinking to move their units to Bangladesh but
after establishing FDC the textile sector would shun this tendency,
Bangladesh has been offering a lot of incentives, including uninterrupted
power supply and tax-free status for the first ten years and tariff-free
access to markets in the European Union.
The Pakistani businessmen already invested heavily in Bangladesh owing
to these facilities. Profit margins in Bangladesh tend to be around
30 percent higher for textile exporters than margins in Pakistan,
The trend is clearly worrying to many observers, who fear a mass exodus
of Pakistans textile manufacturing base, which in turn would
be devastating for the millions of people.
Chemicals & Dyes Merchants Association:
pharma products export up 43%
Indian High Commissioner ensures swift visa to PCDMA members
Sharat Sabharwal, Indian High Commissioner in Pakistan has ensured
swift issuance of business visas, in a meeting held with Chairman
and Members of Pakistan Chemicals & Dyes Merchants Association.
Sharat Sabharwal, Indian High Commissioner along with Arvind Saxena
Economic & Commercial Counsellor, Mr. Acquino Vimal, First Secretary
visited on the invitation of Najamuddin Chughtai, Chairman, Pakistan
Chemicals & Dyes Merchants Association. Indian High Commissioner
while addressing the PCDMA Chairman & members assured that business
visa will be processed and issued on priority to the Associations
members. He stated that Pakistan is an important country for India
in respect of trade and subsequently the business community of both
countries are maintaining cordial relations.
He said that Pakistan imports chemicals, dyes, spices, plastics products
etc. in large quantity from India, while the bilateral trade volume
with joint efforts can rise to the level of 10 to 12 billion USD.
Indian High Commissioner stated that they treat all trading partners
equivalent and efforts are underway to enhance bilateral relations
as well. Referring the SAFTA agreement, he said that it would act
productive as Pakistan has decided to accord India MFN status.
Najamuddin Chughtai, Chairman, Pakistan Chemicals & Dyes Merchants
Association (PCDMA) drew the attention of Indian High Commissioner
towards delays in the issuance of business visas to members and requested
to simplify the visa procedures. Najamuddin Chughtai requested the
Indian High Commissioner to grant visas to members on priority on
associations recommendation. Najamuddin Chughtai during welcome
speech stated that As per the figures of State Bank of Pakistan, India
Trade Volume in 2010-2011 was $ 1.93 Billion. Bilateral trade has
a potential to increase upto US$ 5. He said that Trade between India
and Pakistan is less than 0.5% against their total trade and this
should be increased.
He quoted that as per information Pakistan Exported goods valued US$
318.73 Million and Imported US$ 1.53 Billion in 2010-2011 whereas,
Pakistan suffers a trade deficit with India and Trade is in Indian
favour. Najamuddin Chughtai observed that Pakistan imports some Indian
items through informal trade via Dubai & Singapore which is estimated
around US$ 2-3 billion per year, and this trade could obviously be
undertaken bilaterally at significant lower cost. Removing non tariff
barriers from Indian side could pave the way for Pakistan to enhance
its trade and to narrow down the trade deficit, he added.
Najamuddin Chughtai said that there is an unlawful trade amounting
to US$ 2 to 3 Billion, if legal trade is enhanced, illegal trade and
smuggling could be checked. Najamuddin Chughtai also stressed upon
the need of Pakistan and Indian Chambers and Associations frequent
interaction. He said that PCDMA believe to enhance bilateral trade
between two countries, with regular exchange of trade delegations
and interaction between the leading trade associations with active
participation in exhibitions of two countries. Shahzeb Tariq, Vice
Chairman PCDMA, Chief Advisor Diplomatic Corp M. Arif Balgamwala,
Convener Muhammad Qasim and Executive Committee Members of PCDMA also
participated in the meeting.
KARACHI: The export of chemicals and pharmaceutical products increased
by 43 percent in first quarter of 2011-2012 July, September as compared
to same period last year, Federal Bureau of Statistics FBS data said.
Pakistan exported chemicals, pharmaceutical products worth $257 million
during July-September 2011 as against $179 million in July- September
2010. Chemicals products export rose by 39.76 percent, increasing from
$82.40 million to $115.17 million. Pharmaceutical products export stood
at $29.10 million as against $33.90 million in same period of last fiscal.
Korean firm shows interest in investment in Pakistan
ISLAMABAD: A Korean firm, POSCO, global player in steel, energy and
IT sectors Thursday showed interest in investment in Pakistan. A six-member
delegation of the firm has detailed discussion with CEO, Engineering
Development Board (EDB), Aitazaz A. Niazi, here on Thursday. The visitors
were given in-depth presentation on steel sector of Pakistan. A case
for establishment of steel mill at Kalabagh was presented to them.
They were told that the total installed capacity of long-products in
steel sector is around 4 million tons while that of flat products is
1.19 million tons per annum, against demand of more than 6 million tons,
said a press release issued here Thursday.
The gap between demand and supply is met through imports. It is expected
that the demand for steel products will be around 14.00 million tons
against the supply of around 10 million tons in the year 2015.
It was emphasized that Kalabagh is a natural site for establishment
of a steel mill by virtue of availability of necessary raw materials
like iron ore, coal, dolomite etc. within in 13 KM radius.
The proven reserves of iron ore at Kalabagh are around 350 millions
tons. The delegation asked searching questions about infrastructure
available at Kalabagh including availability of fuel and energy.
It was agreed that a technical team of the firm will later on visit
Kalabagh in order to assess feasibility of establishing a steel mill
The details of iron ore mines in Pakistan along with reserves and iron
ore grades were also provided to the visitors.
It was suggested that the firm may like to invest independently in the
development of any one of the mine or go for joint venture with local
The visitors were informed that the iron and steel sector in the country
do not have common platform for research and development activity to
ensure production of standardized and quality products.
The private sector industrialists realizing the deficiency of this critical
requirement, joined hands to establish an institution with name and
style Pakistan Iron and Steel Institute (PIASI).
The proposed mission and objectives of the institute were also explained
to the visitors and requested to provide assistance in establishment
of the institute by way of equity participation, technical assistance
and providing equipment for testing laboratory.
Earlier, the delegation had a meeting with Secretary, Ministry of Industries
and Production, Abdul Ghaffar Soomro and heads of Heavy Mechanical Complex,
Pakistan Steel Mills and other units.
Senior officers of the Ministry and Privatization Commission were also
present. The visitors were briefed about various expansion projects
of the units and invited to collaborate.
A documentary about the growth of the firm into a global player was
also shown to the participants.
cosmetic appearance of Pakistani citrus must to boost exports
ISLAMABAD: Improving cosmetic appearance of Pakistani citrus (kinnow)
and proper production practices are need of the hour to boost exports
and avoid economic losses. There is also a need to resort to technical
knowledge and post-harvest handling and storage techniques. Pakistan
earns millions of Dollars every year through exports of kinnow but
fruit blemishes are one of the main causes, impeding its exports,
particularly to European Union (EU) markets.
As per the latest study by Pakistan Horticulture Development and Export
Company (PHDEC), cosmetic look of the fruit is a very important factor
affecting consumer choice in the market. Attractive, blemish-free
fruits are desired by the consumer, reported a website relating to
agri news on Thursday.
Pakistani kinnow is fetching very low prices as compared to other
countries like Spain and Morocco. One of the main reasons of this
huge difference in the price is the presence of fruit blemishes on
the peel of Pakistani kinnow.
Morphologically, the blemishes are collapsed hypodermis tissues
related to shrunken or destroyed oil glands. The study said that there
is need to explore the factors which are responsible for variable
fruit quality in other citrus growing districts as compared to Sargodha
so that the export base could be broadened to earn foreign exchange
through export enhancement.
A larger study is also under progress at the University of Agriculture,
Faisalabad, in which monitoring of the whole crop cycle will be documented
in association with the biotic and abiotic factors involved in causing
The study would provide detailed information of insect pest history
and initiation and growth of fruit blemishes throughout the crop cycle.
The study said citrus, the premier fruit crop, is grown in more than
100 countries of the world across the six continents with annual production
of 105 million tons. Brazil is the largest citrus producer (20 percent
share), followed by USA (14 percent share), and China (12 percent
Pakistan ranks 13th eminent citrus producer in the world with an area
of 1,85,000 hectares, producing 2.1 million tons of citrus.
Meanwhile, talking to APP, an exporter of citrus from Sargodha, Farooq
Ahmad emphasized the need to improve and maintain the quality of fruit
and above all enhance its shelf life.
He said in order to ensure quality and grading of the fruit, training
programmes, seminars and various workshops should be organized regularly-
which in turn will create awareness about the latest methods.
Former Chairman, All Pakistan Vegetable and Fruit Association informed
that citrus fruit export fetched high prices this year mainly on account
of skyrocketing rates of the fruit.
He said for the first time in country history, kinnow export
has crossed $ 100 million mark during the current year, indicating
tremendous achievement by the exporters in terms of earning valuable
foreign currency-which substantially contributes to the national exchequer.
It may be recalled that last year, total export of citrus fruit stood
at $90 million.
The markets that fetched great orders for kinnow included Middle Eastern
countries, Iran, Eastern Europe, Russia and Ukraine. A large quantity
of the fruit was also dispatched to Turkmenistan, Tajikistan. Pakistani
Kinnow have also got recognition in Poland, Czech Republic, Austria
and Latvia and Lithuania.
Aramco price surges to $ 890 per ton
KARACHI: The international price of liquefied petroleum gas (LPG)
has jumped by $ 37 to $ 890 per ton for April 2011 due to crisis in
the Middle East, raising its import price by Rs 3,750 to Rs 89,000
per ton in the country. This was stated by the chairman of FPCCI Standing
Committee on LPG and All Pakistan LPG Distributors Association (APLDA)
Abdul Hadi Khan here Thursday.
He said Saudi Armco Contract Price (CP) has surged to $ 890 per ton
for April 2011 due to disturbed political situation in the Middle
East. The price of propane has jumped by $ 55 to 875 per ton while
butane is up by $ 30 to $ 885 per ton.
Hadi feared that domestic price of LPG will be increased by Rs 3.75
per kilo, 11.8 kilo cylinder by Rs 11.25 and 45.4 kg cylinder by Rs
170.25 if the local producers also enhanced their price in accordance
with its international price.
He, urged the local producers not to raise domestic prices and maintain
LPG prices at the level of March 2011 in the national interest and
for the cause of countrys LPG industry.
The sale of LPG has already decreased by 40 percent due to high prices
and may further decline by 20 percent if local producers adjusted
their prices according to Saudi Aramco CP of April 2011, he added.
Hadi noted that LPG users have grown to more than 50 million in the
country due to higher prices of petroleum products and it is now consumed
by automobiles, commercial and domestic consumers.
He pointed out that local consumption of LPG has reduced to 1,300
per ton per day, as its demand has drastically declined due to high
The local producers have also accumulated huge stock of unsold LPG
because of depressed market, he added.
Hadi has appealed to the local producers to announce a reduction,
instead of increasing prices of locally produced LPG.
positive for last couple of years
ISLAMABAD: Despite several domestic and international challenges,
the countrys economy is gradually moving towards building basis
on sound footings as suggested by the economic indicators. Not only
the countrys foreign exchange reserves reached an all time high
of $17.38 billion because of huge remittances sent by overseas Pakistan,
the other economic indicators have shown positive growth during the
period, sources in the Ministry of Finance said while commenting on
the three-year performance of the current government.
The government has been focusing on New Growth Strategy
with an aim to raise growth above its historical average of 4.9 percent,
source said adding main argument in the new growth frame work is that
growth should be market-led and not government-led.
Private sector should be the main driver of growth with public
sector ensuring timely implementation of market reforms to promote
competitiveness, they added.
On monetary front, the government envisaged a significant tightening
of fiscal and monetary policies to bring down inflation and strengthen
the external position adopting several structural measures in the
fiscal and financial sectors including strengthening of social safety
The sources said that keeping in view the risk of inflationary pressures,
the State Bank of Pakistan raised its policy rate 12.5 percent on
May 2010 to 14 percent on 30 November 2010, adding the rate remained
unchanged for the time being due to the risk to inflation and economic
The source said that during FY10, countrys current account deficit
contracted sharply by 62.1 percent, mainly due to contraction in the
trade account and rise in the invisible account surplus and as a result
the countrys foreign exchange reserves were recorded all time
Improvement in inflow of remittances through Pakistan Remittances
Initiative (PRI) stood at $6.12 billion during July-January 2011 as
compared to $5.19 billion during the same period of last year.
The sources termed the surplus of $26 million in external current
account during July-December (2010-11) as marked improvement over
The sources said that due to economic slow down in 2008-09, the government
was forced to enter into a Stand-By Agreement (SBA) with International
Monetary Fund, which benefitted the countrys macroeconomic growth
as is evident from sector-wise growth.
The agriculture sector grew form 2 percent in FY09 to 3.8 percent
in FY10, the manufacturing sector grew from 5.2 percent in FY09 to
percent in FY10 while the real GDP grew from 1.2 percent in FY09 to
4.1 percent in FY10, the sources added.
In order to maintain fiscal discipline, the government focused on
prudent expenditure management and better resource mobilization through
the introduction of Reformed General Sales Tax (RGST) that has been
submitted to the Federal parliament.
It also focused on Harmonization of Tax Administration and Strengthening
Risk Based Audit.
A major development, the sources said, was the announcement of 7th
NFC award after the gap of 19 years. Besides the government introduced
austerity plan, restructuring of public sector enterprises, power
sector reforms and debt management strategy.
Focusing on agriculture development, the government introduced crop
support price policies which benefitted the economy.
The import of fertilize increased by 133 percent, hence the total
availability of fertilizers also increased by 25.3 percent during
FY10 from 4.4 percent in FY08.
The government also allowed import of agriculture machinery at zero
tariffs to facilitate farmers while it launched a project Land
and Water Resources Development Project to bring more land under
cultivation and help alleviate poverty.
Benazir Tractor Scheme, Awami Zarai Scheme and Rural Development Scheme
were other important developments for promoting agriculture sector.
The government also took initiatives for the development of manufacturing
sector of the country through technological up-gradation, provision
of sophisticated machines, equipment, tools and spares in common facility
centers and machine pools, Computer Aided Design (CAD), and Computer
Aided Manufacturing (CAM) facilities besides promoting research and
The other initiatives included launching of Benazir Income Support
Programme to help the poorest of the poor of society for which the
amount of Rs.70 million was allocated for the FY10 to target 5 million
The second phase of National Internship Programme was launched to
create decent employment and human resource development.
Asian bond markets register strong growth in 2010, says ADB Report
ISLAMABAD: Emerging East Asias local currency bond markets expanded
by 13.6% to $5.2 trillion in 2010, driven by strong growth in corporate
bonds that helped to offset a decline in issuance by central banks
and some governments in the last quarter of 2010, said ADB report.The
latest edition of the Asian Development Banks (ADB) quarterly
Asia Bond Monitor shows that growth has been broad-based.The regions
local currency bond markets, excluding the Peoples Republic
if China (PRC), expanded by 11.6% year-on-year in 2010. Meanwhile,
total bonds outstanding in the PRC, the regions largest market,
grew 15.1% year-on-year to reach $3.1 trillion.
Total local currency corporate bonds outstanding grew by 20.3% year-on-year
to reach $1.6 trillion in 2010, mainly driven by growth in the corporate
bond markets of Viet Nam, the PRC, Singapore, Indonesia, and the Republic
An analysis of corporate bond markets by country shows that the top
6-8 firms in each market issue bonds in very large sizes, while the
remaining 30-50 issuers generally offer much smaller amounts. This
results in an asymptotic curve for the distribution of corporate bonds
outstanding by firm.
Emerging East Asias local currency government bond market expanded
in the last quarter of 2010 by 10.8% year-on-year to $3.6trillion,
accounting for about 70% of the total outstanding bonds, and was driven
by growth in Malaysia,Thailand, and Viet Nam.
On a quarter-on-quarter basis, however, the regions government
bond market grew by only 0.1% in the last quarter of 2010.
Growth in the region has been marked by improving maturity profiles
for many individual corporate and government bond markets, the report
said adding this reflects improving structural fundamentals as lengthened
duration will attract a greater diversity of investors.
Local currency issuance totaled $3.8 trillion in emerging East Asia
in 2010, a 10.2% increase over 2009. Government bond issuance expanded
12.3% to reach $3.1 trillion, while corporate issuance grew 1.1% to
Foreign participation in the regions local bond markets continued
to expand as investors hunted for yield and anticipated gains from
appreciation of the underlying currencies.
The major risks to the market outlook are upward inflationary pressures
due to rising commodity and oil prices, and the possibility of further
interest rate hikes.
The risk on-risk off behavior of global markets could
also add to these risks and the volatility of the outlook, the report
in SME reduced in Pakistan: FPCCI
ISLAMABAD: President Federation of Pakistan Chambers of Commerce &
Industry (FPCCI) Senator Haji Ghulam Ali citing a report of State
Bank of Pakistan (SBP) said worldwide investment in SME sector is
growing, but unfortunately it is reduced in Pakistan, coming down
to Rs. 374 billion against Rs. 437 billions in last year. FPCCI President
said Small and Medium Enterprise (SME) sector is playing pivotal role
in development of the country and its importance cannot be ignored
any way, he was addressing the first formal meeting of the FPCCI standing
committee on SMEs at Federation House, Karachi.
Government, he stressed, must allocate funds to NBFIs and leasing
companies on the patron of commercial banks and DFI for the development
of SMEs sector.
He assured the committee that he would try to allocate funds by SBP
and government agencies for leasing and modaraba companies for the
development of SME sector.
Later, he appointed Syed Zahid Ali Rizvi and Haji Jamal-du-din Achakzai
as the Chairman of Federation of Pakistan Chamber of Commerce and
Industry (FPCCI) Standing Committee on Sports and Senior Vice chairman
of FPCCI Standing Committee on Afghani Transit Trade respectively.
Syed Zahid Ali Rizvi is also President of the Sindh Amateur Athletics
Association and Vice-President of Athletics Federation of Pakistan.
Haji Jamal-ud-Din Achakzai was appointed as Senior Vice Chairman of
FPCCI Standing Committee on Afghan Transit Trade (ATT) for the year
2011. Achakzai has a vast experience in ATT.
Vice Presidents: S. Khalid Tawab, Shaikh Mohammad Usman, Dawood Usman
Jhakora and Masood Alam Rizvi, Secretary General, Chairperson SMEs
Standing Committee Arjumand Qazi and President NBFI and Mudaraba Association
Bashir Chaudhry and members of the committee Abdul Umar, Mohammad
Khalid Ali, Naeem Farooqi, Anwar Khalil Hasan, Mohammad Sami Ullah,
Zaheer Mehdi and Mian Zahid Hussain were also present.
Seminar on Investment Opportunities in Pakistan to be
held in Malaysia
Board of Investment of Pakistan (BOI) and Malaysian Industrial Development
Authority (MIDA) would jointly organise the seminar titled Investment
Opportunities in Pakistan, on March 31, 2001, at Kuala Lampur.
A delegation of more than thirty representatives of Pakistans
top ranking companies led by Chairman Board of Investment (BOI) Saleem
H. Mandviwalla will interact with over 200 representatives of the
top ranking Malaysian companies in the seminar.
The High Commissioner of Pakistan in Malaysia Masood Khalid while
commenting on the event said it is a land mark event in the context
of bilateral trade and investment relations between the two countries.
This would provide unique opportunities to the private sectors of
the two countries to interact with each other, he said of the seminar.
Besides, he added it would provide avenues to explore, evaluate and
discuss the trade and investment opportunities Pakistan and Malaysia.
Participants of the conference will focus on four areas including
agriculture and halal sector, Infrastructure development, power and
energy, IT and education to discuss prospects of investment in these
They would come up with a way forward for mutually beneficial frame
work of cooperation to bring about quantum jump in the existing level
of trade and investment between the two countries.
Masood Khalid said the seminar will proceed in two sessions, inaugural
and break out sessions.
In the inaugural session, Chief guest Deputy Minister MITI, Chairman
BOI, High Commissioner for Pakistan, and Director General MIDA in
their speeches will identify the areas of trade and investment opportunities
between the two countries, followed by a press conference.
In the second session, the success story of Foreign Businesses in
Pakistan will be discussed and presentation on Investment opportunities
in Pakistan will be made.
This would be followed by break sessions wherein, the private sectors
of both the countries will discuss sector wise trade and investment
It would come up with recommendations to significantly improve the
existing level of trade and investment between the two countries.
According to the Board of Investment of Pakistan there are seventeen
(17) Malaysian companies working in Pakistan in different sectors
including Housing & Construction, IT, Energy, Agriculture and
various other sectors.
This reflect the vast potential of Malaysian investment in Pakistan
which can further be exploited with the concentrated and targeted
In 2008, Malaysia made an investment of US $ 656.4 million in Pakistan,
which was the second highest foreign investment in Pakistan during
the year 2007-08.
Malaysia-Pakistan Closer Economic Partnership Agreement (MPCEPA) was
signed in Nov 2007 and it came into force from January,1, 2008.
It encompasses liberalization in trade in goods and services, investment,
as well as bilateral technical cooperation and capacity building.
addition of agriculture products for bigger export urged
The speakers at a seminar on Monday said that value addition of the
agriculture products can help increase exports and earn maximum foreign
exchange for the country. In order to promote exports and reduce
imports, it is imperative that there is a continuous development in
the agriculture sector and the exports potential can be further realized
by value addition of agriculture products for having great potential,
Zafar Mehmood, Secretary Commerce said while addressing a seminar
on Development Value Added Agriculture Export.
He said that the event will bring together the official, policy makers,
experts, researchers, growers and exporters to deliberate on the issue
and evolve a pragmatic and viable strategy for enhancing Agriculture
Export Development in the country.
Chief Executive of Trade Development Authority of Pakistan (TDAP),
Taiq Iqbal Puri said that the agriculture value added products would
be locomotive for export in future.
He said that TDAP is going to establish a cold storage and packing
store for mangoes in Multan and Nawabshah and a Date Processing Centre
Highlighting the importance of value added products of rice, Shahzad
Ali Malik, President Lahore Chamber of Commerce and Industries said
that Pakistan is a big exporter of rice and by producing value added
by-products of rice, the country can earn extra amount of billions
He urged the government to bring basic research for hybrid rice seed
in the country which could enhance the production capacity up to 100
maunds per acre which is double in quantity as compared to IRRI rice.
Taufiq Ahmad Khan, Vice Chairman of Rice Exporters Association of
Pakistan expressed the hope that in the coming years they would have
a lot of value addition in rice industry.
He said that Rice Bran Oil is a costly oil which is being consumed
widely in many developed countries but unfortunately we are not availing
this opportunity of earning more foreign exchange by producing rice
He, however said that measures are being taken to import machinery
for producing rice bran oil in Pakistan and very soon the country
would also become exporter of the oil.
export witness about 50 percent increase
ISLAMABAD: The countrys vegetable export is thriving and registering
an increase of almost 50 percent during last eight months of current
financial year. The vegetable export increased by 49.42 percent during
the period from July-February 2010-11 as about 201,621 metric tons
vegetables of different varieties worth of US$ 89.31 million were
exported as against 468,767 metric tons vegetables costing US$ 17.52
million during the corresponding period of the last year.
Meanwhile, the fruit export from the country also witnessed an increase
of 1.21 percent during the period under review as about 308,635 metric
tons fruit were exported which added about US$ 17.74 million in national
foreign exchange reserves.
According to the data released by the Federal Bureau of Statistic
(FBS) vegetable export during month of February 2011 registered an
increase of 137.18 percent as compare to the same month of last year
where as country exported about 48,755 metric tons vegetable during
the period under review and earned US$ 2.05 million.
The fruit export during the month of February 2011 increased by 58.42
percent as compare to the same month of last year, as 47,700 metric
tons fruit costing US$ 2.79 million exported.
The export of leguminous vegetables (Pulses) registered tremendous
increase in last eight months of current financial year as about 418
metric tons of pulses were exported and earned US$ 188,000 as against
37 metric tons worth US$ 33,000 of same period of last corresponding
It may be recalled that Pakistan produces more than 40 types of fruit
and varieties of vegetables which is highly demanded across the globe
for their enriched natural taste and freshness.
The export of these commodities could be enhanced by facilitating
the growers for use of modern techniques and preventing the post harvest
losses as well as establishing cold chains and storage facilities
in the country.
for signing Pakistan-China Transit Trade Agreement
Industrial policy focusses on revival of 1909 sick units
A member of Pakistani Diaspora and President of Gilgit-Urumqi Business
Forum, Nazir Ahmed on Sunday called for taking steps to sign Pakistan-China
Transit Trade Agreement (PCTTA) which would help Pakistan earn billions
of rupees through bilateral trade with the Central Asian States. Pakistan
could earn billions of dollars if we reach out to the markets of Central
Asia. China can provide us transit in reaching to markets of Tajikistan,
Kazakhstan and Uzbekistan which ahve huge capacity for rice, textile
and fruits, said Nazir Ahmed in an exclusive interview with
Nazir, who is visiting Pakistan these days, said the Pakistani business
community should explore new business endeavors in China which was
host of major business activity and the traders from across the globe
were engaged with Chinese markets.
Lauding the support from the people of China and the Chinese government,
Nazir Ahmed said China was the most beautiful and peaceful country
he ever seen and the Pakistani businessmen felt more secure and happy
than anywhere around the world.
The Chinese people are so loving and caring, that we feel even
more secure in China than even in Pakistan. Moreover, China is a paradise
on earth due to its delicious fruits, marvelous and healthy food and
loving people, he added.
He said the Pakistani businessmen could find a gracious host in China
and especially Urumqi, the capital of Xinjiang province, could be
the center of their import and export business.
He said Pakistani businessmen may know that importing Chinese fruits,
electronics, garments, cloth, pampers, mobile phone and computer accessories
from China were the biggest option for them vis-
But they should also know that there was a golden opportunity
for Pakistani businessmen who could export China commodities like
Halal food items for Muslims of Xinjiang Province, especially fruits
including Cherries, Mangoes and Oranges, he added.
He said there was a dire need for establishment of a Pakistani Consulate
in Urumqi which could facilitate the Pakistani business community,
students and visitors who face difficulty due to language problem.
He proposed that the government should also review the Pakistan-China
agreement for bilateral trade, signed in 1987, under which the Pakistan-China
border at Khunjrab Pass was closed for almost five months - from December
30th to May - which hampers the bilateral trade.
There is a need for reviewing this agreement so as bilateral
trade may continue unabated throughout the year which would benefit
both friendly states, he said.
ISLAMABAD: The government has drafted a new industrial policy with focus
on the revival of about 1909 sick industrial units across the country
in consultation with all the relevant stakeholders. Official sources
told APP that in the light of the information provided by industries
departments of all provincial governments, 1909 industrial units were
sick due to variety of reasons. They attributed closure of these industrial
units to financial crunch, outstanding liabilities of commercial banks
, high cost of production , law and order situation, electricity and
gas loadshedding and partnership disputes.
The official sources said that out of 1909 sick industrial units, 480
were in Punjab, 779 sick units were in Sindh, 568 in Khyber Pakhtunkhwa
and 82 industrial units were sick in Balochistan province.
They further said that a total number of 1579 industrial units have
been closed down during the last five years.
Giving break-up of closed units in all provinces and in EPZA were in
Punjab Punjab 115 units, Sindh 700 units Khyber Pukhtunkhwa 688 units
Balochistan 29 units and in Export Processing Zone Authority (EPZA)
47 industrial units were closed down and become sick.
The official sources further said that approximately seven thousand
five hundred and thirty (7530) workers rendered jobless due to closure
of industrial units during the period.
They claimed that New Industrial policy, which will be announced shortly
after in consultation with all stateholders including the owners of
the sick units would help addressing the issues that have led to closure
of the units and formulating measures to revive the sick units if found
them viable for industrial growth in the country.
The sources added that manufacturing is the third largest sector of
the economy , accounting for 18.5 percent of Gross Domestic Product
(GDP) , and 13 percent of the total employment while the Large Scale
Manufacturing (LSM) at 12.2 percent of GDP , dominates the overall sector
, accounting for 66 percent of the sectoral share , followed by small
scale manufacturing, which accounts for 4.9 percent of the total GDP.
The expressed the hope that the new industrial policy after its approval
and implementation would help revive sick industrial units, promote
industrialization , increase productivity and exports, create more job
opportunities for people in their respective provinces and enhance economic
growth leading to poverty alleviation in the country. (APP)
participates in 14th Asian Investment Conference (AIC) at Hong Kong
ISLAMABAD: A two-member Pakistan delegation led Muhammad Ejaz Chaudhary
Federal Secretary Ministry of Privatization, participated in the week-long
14th Asian Investment Conference at Hong Kong, which strated on March
21 and concluded on Friday. The delegation briefed the delegates regarding
the economy of Pakistan and the Public Private Partnership Programme
in the area of privatization and the governments plans to address
the challenges, being faced by the country, including in the area
of infrastructure and the role of privatization policy in this regard,
said a message received here from Hong Kong. The
conference was held under the auspices of Credit Suisse.
The Pakistan delegation briefed the delegates regarding the economy
of Pakistan and the Public Private Partnership (PPP) Programme being
undertaken in the area of privatization and the governments
plans to address the challenges facing the country, including in the
area of infrastructure, the role of Privatization Policy in this regard.
The Government of Pakistan is presently actively considering privatization
related capital market transactions and the AIC will prove to be an
ideal forum to provide in-depth information to investors on Pakistans
economic development and to obtain investors feedback.
The AIC is now considered to be the premier event on the annual investor
conference calendar in the Asia Pacific region.
Over 1,400 institutional and high networth investors, 260 Asian companies,
and top officials from governments, central banks, multilateral agencies
and a number of leading academic institutions from around the world
participated in the conference. (APP)
ambassador woos Pak businessmen
LAHORE: Ambassador of Brazil, Alfredo Leoni, invited Pakistani businessmen
to tap multiple opportunities of mutual trade between Brazil and Pakistan
as Brazil is the 8th biggest consumer market in the world. Speaking
at the Lahore Chamber of Commerce and Industry (LCCI) here, he said
that promotion of commercial and economic ties between Pakistan and
Brazil would further boost bilateral relations.
He proposed that Pakistan could share experiences of the Brazilian
success story in the areas of economy and development achieved through
the implementation of Real Plan which was introduced in
1994, to tame inflation and stabilize the economy.
He said that 18-year inflation was brought down to 4.4 percent per
year and 46 percent per month and Brazil also converted itself from
a borrower to a lender economy.
The ambassador said that Pakistani businessmen could share technical
aspects and general information regarding production of ethanol (bio-fuel)
by sugarcane and its usage in cars and power generation with their
This will help Pakistan in reducing dependence on petroleum products,
he said, adding Brazil was the first commercial partner of Pakistan
in Latin America and bilateral trade was about $400 million.
The ambassador pointed out that the long distance between the two
countries had always been the biggest disadvantage for the improvement
of trade relations between the two countries. But, he said it was
not a hurdle.
This fact is less important today with multiple means of communication,
such as the Brazil Trade Net and facilities of flights to Brazil,
He said that Pakistani businessmen interested in doing business with
Brazilian partners must register on braziltradenet.gov.br and become
a member and a player of the biggest database available in Brazil
involving international trading companies, market studies and information
on fairs, Brazilian companies and trade offers.
Speaking on the occasion, LCCI President Shahzad Ali Malik suggested
that cooperation could be enhanced in agriculture, energy and pharmaceutical
sectors. Serious consideration should be given to reduce tariff and
non-tariff barriers, he added.
The LCCI President said Brazil had a highly developed industrial base
and its diversity ranged from automobiles, steel, petrochemical to
computers, aircraft and consumer durables.
The LCCI will like Brazilian companies to join hands with the private
sector in Pakistan and make best use of our technically qualified
human resource through joint ventures, he added.
The private sector of Pakistan can take advantage of exporting to
Brazil various types of consumer goods like ready-made garments, fabrics,
knitwear, hosiery, towels, leather and leather products, sports goods,
pharmaceutical, surgical instruments etc. Brazil offers a huge potential
for exports of high quality footballs, he added.
Shahzad Ali Malik said that Pakistan could also supply agro products
including rice, pulses, fruits and vegetables etc. For this, both
sides need to work closely to find right partners, he added.
Vice President Sohail Azhar, former President Shahid Hassan Sheikh,
Honorary Consul General in Lahore Ejaz Ahmad and Executive Committee
members also spoke. (APP)
to get US $ 3 billion loan from IDB
ISLAMABAD: Islamic Development Bank (IDB) Group pledged the indicative
financing of around US $ 3 billion during next four years to support
socio-economic development program in Pakistan. Head of the mission,
Eng. Muhammad Jamal Al-Saati, Director, Country Department of the
IDB and Additional Secretary Economic Affairs Division (EAD) Hassan
Nawaz Tarar also signed an agreement in this regard.
The IDB Group will support multi-sector and area-focused programs
in Pakistan during the next four years (2012-2015), Eng. Muhammad
Jamal Al-Saati said while briefing the media persons here.
A high level technical mission from the Jeddah-based IDB Group visited
Pakistan during the period 13-22 March to embark on developing Member
Country Partnership Strategy (MCPS) that will lay out the partnership
and cooperation between Pakistan and the IDB Group over the next four
Eng. Muhammad Jamal Al-Saati said that the IDB Group MCPS mission
took place at a critical juncture in Pakistans development Journey,
at a time when large parts of the country have been devastated by
the recent unprecedented floods with severe socio-economic implications.
In these hard times, it is reassuring to observe that the government
of Pakistan has a coherent plan and remains committed to undertaking
necessary reforms and measures to address the daunting challenges
of advancing socio-economic development, he added.
He further said that the IDB attaches great importance to its already
well-established and close partnership with Pakistan that spans over
the last 35 years.
Al-Saati also revealed that among 56 member countries, Pakistan, which
is a founding member of the Bank, is the second largest beneficiary
of the IDB Group financing.
So far the IDB Group has approved US $ 7.5 billion in project and
trade financing for Pakistan, he added.
The MCPS process is intended to help the government in its ongoing
efforts to reduce poverty and generate more employment opportunities
through achieving sustainable socio-economic development.
Eng Al-Saati also announced that the IDB will consider expanding its
local office in Pakistan to improve and speed up the implementation
of the IDB-funded projects. (APP)
net needs to be broadened: Hafeez Shaikh
KARACHI: Finance Minister, Dr. Adbul Hafeez Shaikh, has sought cooperation
of the business community to broaden the tax net and revenue generation
equally from all sectors of economy. There is also a need to
eliminate undue tax exemptions, the Minister said while talking
to a group of the representatives of business community and office
bearers of Karachi Chamber of Commerce and Industry (KCCI) here at
the KCCI office.
He underscored the need to devise mechanism to curb smuggling under
Afghan Transit Trade (ATT).
He stated that people who are earning should pay their due share of
The meeting was also attended by prominent business community leaders
and KCCI President also discussed the changes in law and promulgation
of SROs on 15th of this month.
The Minister appreciated the role of KCCI to coordinate effectively
across Pakistan with all sectors and furnishing meaningful proposals
for revenue generation.
Siraj Kassam Teli, leader of business community. Chairman, Businessmen
Group & former president KCCI, Zubair Motiwala, Advisor to Chief
Minister Sindh on Investment, Chairman, Council of All Pakistan Textile
Associations (CAPTA) & President KCCI, Saeed Shafiq, discussed
proposals for sustainable policies for tax revenue generation to avoid
budget deficit and balance of payments position.
The Chairman Federal Board of Revenue (FBR), Salman Siddique, on the
occasion, agreed that the consignments of commercial importers that
reached ports before March 16, will be taxed as was position before
promulgation of the SRO on March 15 while GST will be charged only
when sale will be made to unregistered persons for consignments reached
after March 15th.
According to the statement of KCCI issued after the meeting late on
Sunday, by virtue of SRO 230(I)2011 dated 15th March, 2011, SRO 549(I)/2008
was amended and sales tax zero-rating on plant, machinery and equipment
The said matter was also discussed and request was made to Finance
Minister to rescind amendment as this was capital investment and must
not be subject to any front loading to promote industrialization and
create job opportunities, the statement added. (APP)
products attracts non-muslims countries: Changez Jamali
ISLAMABAD: Federal Minister for Science and Technology Mir Changez
Khan Jamali has said Halal business is not limited to Muslim communities
and the countries rather owing to its high hygienic values, these
products are attracting non-Muslims as well. He expressed this while
chairing the first meeting of National Steering Committee for promotion
and development of Halal products, here.
The Minister said that Halal market and Halal branding is now a global
phenomenon and it has the potential to make Pakistan proud and prosperous,
said a press release here.
He said that this would help Pakistani experts, producers and exporters
to capture larger share in Halal international market and build Pakistan
economy through safeguard of integrity of Halal and highest level
The Minister said that without research and development (R&D),
no industry can go too far in this competitive world.
In this respect a national level integrated effort will be required
to give direction to all R&D segments and bridge the gap between
the industry and researchers, he maintained.
He appreciated the efforts of a Pakistan Technology Board for taking
such a timely initiative.
Secretary Science and Technology Irfan Nadeem said that the Steering
Committee will perform as regulations, implementation, media coordination,
training and awareness raising program.
Officials of Ministries of Religious affairs,Food and Agriculture,
Live Stock and Dairy Development, Industries and Production, Commerce,
and Law, Board of Investment representative of each province, Lahore
and Karachi Chamber of Commerce were also present in the meeting.
Baltistan to be made attractive for Investors
ISLAMABAD: Chairman Board of Investment Saleem H. Mandviwalla had
a meeting with Chief Minister Gilgit Baltistan Syed Mehdi Shah here
on Thursday, in which both the sides vowed to make the area attrative
On the occasion the Chief Minister GB Syed Mehdi Shah said that the
region has all the opportunities to become an investment hub and the
present government is evolving new policies to facilitate both the
local and foreign investments.
He emphasized that unlike the past, the present government had given
a serious concentration to the power generation, infrastructure development,
education and health to alleviate the sufferings of the people that
had been facing multiple problems for the last many decades.
He said that an era of development had been started in Gilgit-Baltistan
with serious work on Basha Dam, detailed engineering of Monji Dam
and in the shape of expansion of Karakorum Highway.
He further said that apart from Tourism, Mining, Food preservation,
the area has a very huge potential for Cement and Herbal sectors therefore
the business community should come forward to explore these opportunities
that offer a huge revenues.
He also informed that the present government had given a development
package to the area with a view to facilitate the investors and all
measures were being taken to turn the area an investment hub.
Chairman BOI informed the Chief Minister GB that South Korean investors
are interested in power generation and this investment could overcome
the shortfall of 80MW of the region.
He also said that we need to develop the roads and infrastructure
in the region and investors are already keen to invest in construction
of all weather airports in Gilgit and Sakardu.
He further added that investment in Gilgit-Baltistan would not only
be beneficial to that particular area but it would also help strengthen
the economy of the country.
The Chairman BOI informed the Chief Minister that the board is working
for evolving a tax free policy for investors very soon.
At the end of the meeting the Chief Minister assured the BOI Chief
to extend maximum cooperation to all the investors who would be making
investment in Gilgit-Baltistan. (APP)
for equitable, fair taxation policy
ISLAMABAD: The Islamabad Chamber of Commerce and Industry Saturday
stressed the need for implementing a free and fair taxation policy
to raise revenues by broadening and simplifying the tax base.Unfortunately
taxation has not been given proper attention in Pakistan so it became
an ineffective tool to form and influence socio-economic policies,
ICCI President Mehfooz Elahi said while addressing business community
He was of the view that many people avoid filing tax returns due to
their fear of harassment by tax department adding that taxpayers also
feel insecure because of complications in the current taxation policy
and lack of trust in the present tax system.
ICCI President was of the view that the government should bring tax
evaders into the tax net instead putting further burden on the existing
He said that the country has a potential of increasing tax to GDP
ratio by 3.5 per cent in next five years by making the system, public-friendly
and equitable adding widening tax net will allow reduction in tax
rates, without reducing revenue.
Elahi said that the encouragement of tax culture can only take place
through removal of corruption from the tax departments, which will
encourage and mobilize new taxpayers who are hesitant to contribute
and continue to remain outside the tax net.
Once people see the tangible benefits of the taxes they would pay
and there would be a better response to tax compliance, he added.
He was of the view that public confidence could be won by improving
governance, eradicating corruption and pursuing equitable tax policies.
shows 69 pc growth during July 2010-February 2011
ISLAMABAD: The Export Processing Zones Authority (EPZA) has done tremendous
job as the Authority has shown a record growth of 69% during July
2010-February 2011 as compared to July 2008 -February 2009, said Secretary
Ministry of Industries and Production, Abdul Ghaffar Soomro.
Secretary Industries and Production Abdul Ghaffar Soomro in a statement
lauded that EPZAs efforts in enhancement of export would help
in recovering the economy of country.
The management of Export Processing Zones Authority has done tremendous
job as the Authority has shown a record growth of 69% during the current
period July 2010-February 2011 as compared to the period July 2008
-February 2009, he remarked.
He added that exports were 41% higher when compared with the corresponding
period of 2009-10. This progress reflectd a confidence of the investors
in EPZA and its investors friendly policies.
Abdul Ghaffar Soomro further said that despite economic challenges
prevailing in the country and economic recession in the world as well,
EPZA has shown resilience. Resultantly, exports have registered a
It has also contributed in creating employment opportunities, generating
revenues for the Government and increasing investment by the investors
in EPZA, he said.
He attributed the enhancement in exports to good performance in several
sectors such as garments, garment accessories, P.P/PVC plastic products,
Paper/Printing & Packaging, Chemical & Allied products and
worn clothing. (APP)
extends financial guarantee to maintain wheat reserve upto 6.6 mln
ISLAMABAD: Economic Coordination Committee of the Cabinet(ECC) here
decided to extend financial guarantees of the Provinces and Pakistan
Agriculture Storage and Services Corporation (PASSCO) to maintain
and stabilize reserve of wheat upto 6.5 million metric tons. The ECC
met here under the chairmanship of Federal Minister for Finance and
Economic Affairs, Dr. Abdul Hafeez Shaikh.
The summary for the procurement of wheat by the public sector was
moved by the Ministry of Food and Agriculture and ECC considered it
at length in light of the recommendations of the review meeting for
the purchase of the wheat policy headed by the Deputy Chairman Planning
That meeting (held on February 3) had recommended that the wheat procurement
target will be 6.57 million tons, PASSCO 1.30 metric tons, Punjab
3.5 metric tons, Sindh 1.3 tons, Khyber Paktunkhwa 0.4 metric tons
and Balochistan .07 metric tons.
The Committee was also apprised of the sugar stock situation. The
Committee was informed that sugar stock is sufficient for the coming
The Ministry of Industries and production in its summary gave a detailed
outline of the local sugar production. Up till March 15 the production
remained 33,33,950 metric tons whereas the already stocked position
is 16,846 metric tons.
The Trading Corporation of Pakistan has the stock of 4,45,984 metric
tons which make the total stock position as 25,74,610 metric tons.
Board approved roadmap for capital market transaction
ISLAMABAD: The Privatization Commission (PC) Board approved the roadmap
for the capital market transaction upto June 30 and also allowed to
initiate the process for the hiring of financial advisor (FA) for
the Exchangeable Bonds for Oil & Gas Development Company Limited
(OGDCL). The Board met here under the chairmanship of Federal Minister
for Privatization, Syed Naveed Qamar decided that a committee comprising
of Finance Division, Ministry of Petroleum & Natural Resources
and the Privatization Commission will jointly administer the Exchangeable
Bonds for OGDCL.
Naveed Qamar said that on privatization front, there was a major shift
from strategic sale to the Public Private Partnership (PPP) to bring
in professional, efficient management from the private sector for
enhancing the production, making value addition to national assets
by making them profitable and creating more jobs through expansions
in the Public Sector Entities (PSEs).
The government was determined to put Pakistan on the map of global
capital markets, he added.
The roadmap for the capital market transactions include exchangeable
bonds of OGDCL and initial public offering (IPO) of State Life Insurance
Company (SILC), Pak Arab Refinery Company (PARCO), Government Holdings
Petroleum Limited (GHPL), National Insurance Company Limited (NICL),
Faisalabad Electric Supply Company (FESCO), Islamabad Electric Supply
Company (IESCO- after approval by the Council of Common Interest (CCI),
Secondary Public Offering (SPO) of Pakistan Petroleum Limited (PPL),
Habib Bank Limited (HBL) and Global Depository Receipts (GDR) of Kot
Adu Power Company (KAPCO), Habib Bank Limited (HBL) and National Bank
of Pakistan (NBP).
Prior to undertaking these Transactions, road shows will be organized
at Hong Kong, Singapore, Dubai, London and New York in next 2-3 months.
The PC Board constituted a Committee for formulating its recommendations
under Public Private Partnership (PPP) mode prior to initiating the
process for Jamshoro Power Company Limited (JPCL).
While reviewing the implementation status of the decisions of the
earlier Board meeting, the PC Board was informed that a committee
constituted to review the Supreme Courts judgment before proceeding
ahead regarding any privatization related issue of Pakistan Steel
Mills Corporation (PSMC), opined that the PC being petitioner before
Supreme Court of Pakistan cannot undertake any such exercise, however,
the efforts should be made to evolve an approach for early disposal
of the case pending since long.
The PC Board reviewed the privatization of Heavy Electrical Company
(HEC) and modalities for finalizing the transaction. The possibilities
of the Public Private Partnership (PPP) for the other Public Sector
Entities (PSEs) on the active list were also considered.
The PC board members, senior officials of Finance, Petroleum &
Natural Resources, Industries and Privatization Commission attended
the meeting. (APP)
of Commerce to propose amendments in TDAP Ordinance
ISLAMABAD: The National Assembly Standing Committee on Commerce here
directed the Ministry of Commerce to propose amendments in Trade Development
Authority Pakistan Ordinance 2007 latest by March, 31, 2011. The meeting
of the Standing Committee on Commerce was held in the Committee Room
of Parliamentary House in chair with MNA Engineer Khurram Dastgir
Khan. The Committee also asked the Ministry of Commerce to include
the input of parliamentarians and the Trade Development Authority
of Pakistan Board should be reconstituted and its size should also
According to the agenda of meeting, the Committee was briefed on trade
concessions offered by the European Union after 2010 floods and subsequent
negotiations in World Trade Organization.
It was also briefed on Export Development Fund allocation in Financial
Year 2009-2010 and 2010-2011 to date and a Preliminary discussion
on Trade Development Authority of Pakistan Ordinance 2007, to be held
Nawab Abdul Ghani Talpur, Mrs. Tahira Aurangzeb, Haji Muhammad Akram
Ansari, Ms. Shireen Arshad Khan, Hamid Yar Hiraj, Iqbal Muhammad All
Khan and Mrs. Jamila Glllani attended the meeting.
The Committee appreciated that despite flood, war on terrorism and
law and order situation, the Pakistani exports have reached to US
$ 02 billion per month, this was due to tremendous role Pakistani
Businessman/Farmers/Exporters and traders.
However, the Ministry of Commerce was advised to watch other factors
of increase in exports like rise in prices of raw cotton, yarn, rice
and other commodities.
The Committee expressed concern as mostly raw material of cotton,
rice and other commodities of Pakistani agriculture is exported thus
local industry is facing difficulties in domestic production.
Due to this reason, the prices of local cloths have increased, the
The Committee urged that although cotton trade have been made free
but efforts should be made to promote the trend of value addition
in cotton/ textile and other items, which can be done jointly by local
Industrialists/ Ministry of Commerce.
The Committee advised to promote exports of other commodities like
Kinoo, meat etc.
The Committee expressed satisfaction that now Pakistan grower is getting
international prices and appealed local businessman/traders to participate
in global trade system and free market regimes.
The Committee expressed concern that major and massive failure to
Pakistani exports was done due to war on terrorism, resultantly, WTO
trade regimes could not be run in letter and spirit.
The Committee also noted that this is for the first time that concessionary
proposal of 75 items have been submitted by Ministry of Commerce to
European Union which will be considered in March, 2011.
In this regard, the Committee urged, to utilize all efforts to get
these concessions by the confidence of all allied countries like India,
Bangladesh, Sri Lanka, Vietnam and other countries.
A proper mechanism and course of action should be launched.
The Committee appreciated that vital interests of exports have been
look-after efficiently through political wisdom and trade diplomacy
at all levels.
The Committee expressed concern that allocation for Export Development
Fund (EDF) for the year 2010-11 is Rs. 2097.925 million where as only
Rs. 839.170 million have been released.
The Committee emphasized to, bring transparency, rational and productivity
in various ongoing projects.
Ministry of Commerce should ensure before disbursement of funds that
objective of ongoing projects would be achieved. The Committee recommended
that preference should be given to run the projects in the remote
and rural areas.
The Committee recommended that as handicraft is a vast and attractive
field for exports, therefore, Chairman Handicraft Association maybe
welcomed in the Board.
The Committee recommended that for promotion of the Pakistani exports,
EDF funds should only be utilized for Trade Development Authority
rise over 20% to 6.96 bln
KARACHI: Remittances sent home by overseas Pakistanis continued to
show a rising trend as an amount of $6,963.28 million was received
during first eight months (July-February) of the current fiscal year
2010-11.According to SBP statistics, the inflow showed an increase
of $1176.17 million or 20.32 percent when compared with $5,787.11
million received over the same period of the last fiscal year.
The inflow of remittances in the July-February period from UAE, Saudi
Arabia, USA, GCC countries (including Bahrain, Kuwait, Qatar and Oman)
UK and EU countries amounted to $1,627.09 million, $1,563.00 million,
$1!298.26 million, $820,02 million, $770,91 million and $220.24 million
respectively as compared to $1,318.33 million, $1,148.86 million,
$1,173.21 million, $826.94 million, $596.26 million and $171.42 million,
respectively, in the July-February, 2010 period.
Remittances received from Norway, Switzerland, Australia, Canada,
Japan and other countries during the first eight months of the current
fiscal year amounted to $663.73 million as against $551.10 million
in the same period last year.
The monthly average remittances for the July-February 2011 period
comes out to $870.41 million as compared to $723.39 million during
the same corresponding period of the last fiscal year registering
an increase of 20.32 percent.
In February 2011, an amount of $845.28 million was sent home by overseas
Pakistanis, up 43.50 percent or $256.25 million, as compared with
$589.03 million received in the same month last year.
During the month of February 2011, remittances from Saudi Arabia,
UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and
Oman) and EU countries amounted to $209.60 million, $190.04 million,
$152.55 million, $101.21 million, $98.55 million and $24.58 million
respectively as compared to $149.45 million, $138.09 million, $111.32
million, $45.91 million, $89.22 million and $13.49 million in February
2010. Remittances received from Norway, Switzerland, Australia, Canada,
Japan and other countries during February 2011 amounted to $68.75
million compared with $41.55 million in the same month last year.
It may be pointed out that the State Bank, Ministry of Finance and
Ministry of Overseas Pakistanis had undertaken a joint initiative
called Pakistan Remittance Initiative (PRI) with a view
to facilitate the flow of remittances through formal channels. This
initiative has started to materialize and remittances through formal
channels are showing considerable growth, the Central Bank maintained.
Chemicals import from Vietnam is increased; Commercial
Counsellor of Vietnam
Commercial Counsellor of Vietnam, Nguyen Hong Tien, stressed on the
need to enhance Pak-Vietnam Bilateral Trade Cooperation and regular
exchange of trade information while addressing the members of Pakistan
Chemicals & Dyes Merchants Association.
Commercial Counsellor of Vietnam also asserted upon the importance
of frequent exchange of trade delegations and stated that Pakistani
businessmen can easily get the business visa on the basis of sponsorship
of their Vietnams counterparts. Commercial Counsellor was invited
by the Chairman, Pakistan Chemicals & Dyes Merchants Association,
Muhammad Haroon Agar at PCDMA where he addressed the members and informed
that Vietnams exports were 71 billion USD in year 2010 while imports
were 84 billion USD, whereas the Vietnam exports to Pakistan were
143 million USD and imports from Pakistan were 109 million USD. Commercial
that the import of Chemicals from Vietnam is increased and Vietnams
Government desires to facilitate the importers.
He said that at times the business visa delayed as it is issued by
the Vietnam Immigration Authority. He suggested that if tourist visa
applied it will be issued in short time, as the Vietnam Government
prefer to issue Tourist visas.
Muhammad Haroon Agar, Chairman, Pakistan Chemicals & Dyes Merchants
Association apprised the Vietnams Commercial Counsellor about the
problems faced by the members in the issuance of business visas and
urged to simplify the procedures for swift issuance so that the bilateral
trade volume may increase. Agar stated that the business visas be
issued on priority on the recommendation of PCDMA.
ENROLMENT AS A MEMBER OF THE SUB-COMMITTEE
Dear Members, Subsequently to Circular no: 30 dated 5th November,
2010 regarding the formation of the Sub-Committee, Chairman PCDMA
Mr. Mohammad Haroon Agar likes to draw the attention of the members
to join the Sub-Committees at their own choice to serve PCDMA.
In this regard interested members are requested to come up with their
interest in writing either to Chairman or Secretary General not later
than February 25, 2011 so that they may be accommodated in their desired
Sub-Committees to serve the members with their best abilities and
satisfactions. SYED SHAKIL AHMED Secretary General
loss feared; imports from China under FTA: Haroon Agar
ATTRACTIVE COUNTRY FOR INVESTMENT & JOINT VENTURES:
Unwarranted delay in clearance due to signature issue is contrary
to the spirit of FTA
Muhammad Haroon Agar, Chairman, Pakistan Chemicals & Dyes Merchants
Association (PCDMA) has expressed deep concern on inordinate delays
in the clearance of imported consignments from China under Free Trade
Agreement (FTA) and stated that Customs authorities are delaying the
clearance of consignment due to unavailability of new signatures in
respect of Pak-China FTA, and therefore, importers fear colossal losses
owing to delays.
Agar held responsible the Ministry of Commerce and conveyed his contention
that Commerce Ministry, since 2009 till date, has not acquired new
signatures of Pak-China FTA, while the Pak importers are facing its
consequences in the form of losses which has also increased the cost
of doing business. Agar urged Commerce Ministry to ensure prompt clearance
without delays of Pakistan-bound consignments at Chinese ports and
demanded immediate measures accordingly.
Agar, in a meeting at the Chinese Economic Commercial Section apprised
the Chinese Commercial Counsellor Wang Qihui the said matter threadbare.
Agar highlighted that both countries and their traders were facilitating
each other in respect of FTA, however, due to unavailability of new
signatures with the Pakistan Customs Authority, the facility of FTA
is somehow, suspended and consequently, imported consignments are
facing excessive delays in clearance. The imposition of demurrage
on imported has increased the cost of doing business and importers
are fearing colossal financial losses, he added.
Agar focused that unwarranted delay is contrary to the spirit of Pak-China
Free Trade Agreement (FTA) that is to promote trade between two countries
as it is causing financial losses and increasing the cost of doing
business. Agar urged the Chinese Commercial Counsellor to play productive
role and ensure timely exchange of signatures so that traders of both
countries be facilitated as per the spirit and soul of FTA.
Chinese Commercial Counsellor Wang Qihui ensured Haroon Agar about
swift contact with Chinese Commerce Ministry to resolve the said issue.
Wang sought details of problems being faced by Pakistani importers
at Chinese ports and ensured for needful solutions. Wang also suggested
the Pak importers to pursue Pakistans Commerce Ministry in this
regard. Haroon Agar was also accompanied by Shaikh Imran Saleem, Vice
Chairman PCDMA, Ghayassuddin, former Vice Chairman PCDMA and Shakil
Ahmed, Secretary General PCDMA to meet the Chinese Commercial Counsellor.
Chinese Trade Delegation Proposed Pak-China JV will provide low cost
raw materials to cater national need: Haroon Agar
Frequent Exchange of trade delegation will multiply bilateral trade:
Pakistan is an attractive destination for investment and joint ventures,
stated by Wang Zhuo, President of China Dyestuff Industries Association,
in a B2B meeting held with the Office Bearers, Executive Committee Members
and members of Pakistan Chemicals & Dyes Merchants Association and
Karachi Chamber of Commerce & Industry.
The 24-members Chinese trade delegation visited Pakistan on the invitation
of Muhammad Haroon Agar, Chairman, Pakistan Chemicals & Dyes Merchants
Association, to explore the possibilities of joint ventures and setting
up the industrial base for chemical, dyestuff raw materials in Pakistan.
Earlier, Muhammad Haroon Agar, Chairman, Pakistan Chemicals & Dyes
Merchants Association, also arranged a visit of Chinese delegation to
three important industrial concerns, Gul Ahmed Textiles, Yunus Textiles
& Al-Karam Textiles, where they analysed and appreciated the production
and manufacturing capabilities.
Wang Zhou, President, China Dyestuff Industries Association, termed
the visit of Chinese delegation successful for gathered incisive insight
of raw materials and declared it as a significant development in the
bilateral trade between two countries. Zhou underscored the possibilities
of joint ventures and invited the business community to participate
in the 11th International Dyestuff Exhibition to be held in China this
year. Zhou also asserted upon the need of frequent exchange of trade
information and delegations.
Muhammad Haroon Agar, Chairman, Pakistan Chemicals & Dyes Merchants
Association, while speaking with the delegation said that Pak-China
joint ventures will provide raw-material on low cost which will also
increase the cost of manufacturing and doing business.
Agar appreciated the visit of delegation and said that it will shun
the negative perception of Pakistan due to law & order around the
globe. Agar while ensuring the Chinese delegation his best support articulated
that Pakistan imports from China Chemicals, Dyes, Plastics, raw materials
worth around 3 billion USD every year whereby a great amount of foreign
exchange is exhausted in this import, therefore, Pak-China Joint Ventures
will lead to visible enhancement in the foreign direct investment, decrease
in the cost of manufacturing and saving of foreign exchange.
Mahmood Salam, Coordinator-PCDMA pointed out some complaints substandard
chemical import and suggested for establishing a Joint Dispute
Resolution Committee to address the problems.
Muhammad Saeed Shafiq, President-KCCI, while presiding over the said
meeting announced the session productive, stating that regular exchange
of delegations with open new avenues of bilateral trade and exploration
of trade prospects.
Saeed said that exchange of trade delegations are imperative to multiply
bilateral trade. Saeed also invited the Chinese counterparts to participate
in the KCCIs 8th My-Karachi Exhibition to be held in July 2011.
Sheikh Imran Saleem, Vice Chairman PCDMA, Co-leader of Chinese Delegation
Li Yan and other Executive Members also participated in the meeting.
Committed to Public Service & Steadfast
to Resolve the Problems of Business Community: SIRAJ TELI
Businessmen Group (BMG) is playing a productive role with a sincere
enterprise to resolve the problems of the business community,
expressed by Siraj Kassam Teli, Chairman, Businessmen Group & former
President-KCCI, while addressing at the inauguration ceremony of expansion
& renovation of Pakistan Chemicals & Dyes Merchants Association
Head Office at Karachi.
Siraj Teli focused that BMG will never leave alone the business community
and raise voice to protect and promote its genuine and legal rights
with the high-ups of the government. Teli underlined the importance
of unity and harmony amongst the business community for resolving the
problems. Teli stated that collective efforts are required on RGST issue
and without consultation and removal of the apprehensions, RGST would
not be acceptable at all, as it will have a destructive impact on the
economy ; commercial and industrial activities will face another slowdown.
Teli stated that the Bolton Market Tragedy was a difficult task and
a challenge for KCCI, however, compensation amount of 1.4 billion to
1751 affactees became possible, we find no such example in the history
of Pakistan where compensation was provided within one-month time.
Teli expressed gratitude and compliments to the members of the business
community and said that with their support BMG is winning the elections
at KCCI since last 13 years and never lost one single seat. Zubair Motiwala,
Advisor to Chief Minister on Investment and Vice Chairman BMG said that
due to political uncertainty, deteriorating law & order situation,
and weak policies of the government the business situation is becoming
difficult, whereas, such protest of the business community is also increased,
therefore, Govt should take serious notice accordingly.
Motiwala commented that RGST imposition will have a negative impact
on the legal business while smuggling will multiply. If the Govt impose
RGST the there will be a gap of 15 percent between the real business
person and smuggler and the cost of doing business will increase, he
said. Saeed Shafiq, President-KCCI ensured best support and cooperation
to PCDMA on their issues with the government.
Haroon Agar, Chairman, Pakistan Chemicals & Dyes Merchants Association
(PCDMA) paid glowing tribute to Siraj Kassam Teli and Zubair Motiwala
for their priceless services and efforts to promote trade & industry
and resolve the problems of business and industrial community. Agar
highlighted the proactive role of Karachi Chamber of Commerce &
Industry for supporting other trade bodies; recommending solutions for
their problems to the concerned quarters.
Agar said that RGST will have destructive repercussions on the commercial
activities and without consultation of stakeholders RGST is not acceptable.
Abdul Razzak Agar, Special Assistant to Chief Minister Sindh, Talat
Mahmood, SVP-KCCI, Shaikh Imran Saleem, Vice Chairman PCDMA, Muhammad
Idrees, Karachi Electronics Dealers Association, prominent businessmen
Rafiq Bilwani, Amir Abdullah Zaki, Younus Bashir and Managing Committee
Members of PCDMA also participated in the meeting. Siraj Teli also inaugurated
the new office of PCDMA.
Indian High Commissioner ensures
swift visa to businessmen
Sharat Sabharwal, Indian High Commissioner in Pakistan has ensured swift
issuance of business visas, in a meeting held with Chairman and Members
of Pakistan Chemicals & Dyes Merchants Association. Sharat Sabharwal,
Indian High Commissioner along with R.K. Sharma, Economic & Commercial
Counsellor, Dr. Suhel Ajaz Khan, Visa Counseller visited on the invitation
of Muhammad Haroon Agar, Chairman, Pakistan Chemicals & Dyes Merchants
Indian High Commissioner while addressing the PCDMA Chairman & members
assured that business visa will be processed and issued on priority
to the Associations members. He stated that Pakistan is an important
country for India in respect of trade and subsequently the business
community of both countries are maintaining cordial relations. He said
that Pakistan imports chemicals, dyes, spices, plastics products etc.
in large quantity from India. He highlighted that the Indian export
has crossed 600 bn, while the bilateral trade volume with joint efforts
can rise to the level of 10 to 12 billion USD.
Indian High Commissioner stated that they treat all trading partners
equivalent and efforts are underway to enhance bilateral relations as
well. Referring the SAFTA agreement, he said that it would act productive
if Pakistan accords India MFN status. Muhammad Haroon Agar, Chairman,
Pakistan Chemicals & Dyes Merchants Association (PCDMA) drew the
attention of Indian High Commissioner towards delays in the issuance
of business visas to members and requested to simplify the visa procedures.
Agar requested the Indian High Commissioner to grant visas to members
on priority on associations recommendation.
Agar during welcome speech stated that as per the figures of State Bank
of Pakistan, India Trade Volume in 2009-10 was $ 1.38 Billion. Bilateral
trade has a potential to increase upto US$ 5. He said that Trade between
India and Pakistan is less than 0.5% against their total trade and this
should be increased. He quoted that as per information Pakistan Exported
goods valued US$ 268.33 Million and Imported US$ 1.03 Billion in 2009-10
whereas, Pakistan suffers a trade deficit with India and Trade is in
Indian favour. Agar observed that Pakistan imports some Indian items
through informal trade via Dubai & Singapore which is estimated
around US$ 2-3 billion per year, and this trade could obviously be undertaken
bilaterally at significant lower cost. Removing non tariff barriers
from Indian side could pave the way for Pakistan to enhance its trade
and to narrow down the trade deficit, he added. Agar said that there
is an unlawful trade amounting to US$ 2 to 3 Billion, if legal trade
is enhanced, illegal trade and smuggling could be checked.
Agar also stressed upon the need of Pakistan and Indian Chambers and
Associations frequent interaction. He said that PCDMA believe to enhance
bilateral trade between two countries, with regular exchange of trade
delegations and interaction between the leading trade associations with
active participation in exhibitions of two countries. Shaikh Imran Saleem,
Vice Chairman PCDMA, and Managing Committee Members of PCDMA also participated
in the meeting.
RENEWAL OF ANNUAL MEMBERSHIP OF THE PCDMA
FOR THE YEAR 2011-2012
This is for general information of all members of the Association
that under the Trade Organization Ordinance, 2006 and subsequent to
Trade Organization Rules, 2007, subscription for the current
financial year has become due for payment and expiring on 31st March
2011. Under clause 46(iii) of the Article of the Association of Pakistan
Chemicals & Dyes Merchants Association, any member who does not
pay this subscription by 31st March 2011, shall be deemed to have been
automatically removed from the membership register of this Association.
Please make it convenient to renew your Membership (which is starting
from 1st February 2011) within the due dates by remitting us a sum of
Rs. 1000/= (Rupees One Thousand only) by Cash, Cheque, Demand Draft
in favour of Pakistan Chemicals & Dyes Merchants Association
Karachi. It is further requested that please dont forget to bring
your Membership No
and IT Return copy of June, 2010 at the time
of Renewal. All the members of the Association may contact the Head
Office at Karachi for their renewals of Membership.
The members belonging to Faisalabad may contact Mr. Muhammad Younus
Convener Faisalabad M/s. Universal Chemical Store, P-79, Street #4,
Inside Kutchery Chiniot Bazar, Faisalabad. Ph: 041-2615486 Members
belonging to N.W.F.P. and other Cities of Punjab please be contacted
to Mr. Talha Bin Zaheer, Secretary, Northern Regional office Suite #
205-206, Ainak Mahal, Shah Alam Market, Lahore or Mr. Amir Munir, President,
Northern Regional office at M/s. Al Hamd Corporation H-1223 Inside Akbari
Mandi, Lahore Ph: 042-37660851-37666686 As per DTO orders dated 24-02-1997
the Membership will be renewed only upon providing the copy of filing
of return or statement under section 115(4) of the Income tax Ordinance
2000 (previously section 143-B of the Income Tax Ordinance 1979) for
the latest proceeding year i.e. assessment year 2010-2011, (year ending
June 30, 2010). The last date of payment for Renewals of Membership
is 31st March 2011 for the year 2011-2012. SYED SHAKIL AHMED Secretary
IMPORTERS RECORD PROTEST AGAINST CLAIMING
OF ADDITIONAL CHARGES BY SHIPPING LINES
Currency Adjustment Factor & other additional charges claimed
culminating to increase in the cost of doing business, PCDMA condemns
the raise and appeals MoC for rectification
Muhammad Haroon Agar, Chairman, Pakistan Chemicals & Dyes Merchants
Association, has appealed the Ministry of Commerce, to devise some mechanisms
or impose regulations to shun the abusive dominance and cartelization
of shipping lines/agents stating that shipping lines/agents claim from
importers and exporters, unwarranted additional charges in different
Haroon Agar while expressing deep concerned has appealed the Federal
Commerce Minister to take notice of such possessive practices by shipping
lines/agents and apprised the Minister that Shipping-lines/agents, keeping
their eyes wide shut towards the incentivizing policy of this democratic
government, are stubborn to impose their abusive dominance and cartelization
while enforcing various unprovoked additional charges from time to time,
which increases the cost of doing business and resulting financial losses
to importers/exporters who are contributing a major chunk in the government
revenue. Copy of said letter is also sent to Federal Finance Minister,
Federal Minister for Ports & Shipping, concerned Federal Secretaries,
Chairman-FBR, DG-FIA and Federal Tax Ombudsman informing about the new
practice of claiming additional charges started by few Shipping Companies/Agents
claiming additional unprovoked charges in the headers of Currency Adjustment
Factor (CAF), Karachi Port Surchage (KPS) US$50, Splitting Charges etc.
in recent new imported consignments and urged to stop such activities
as it would become vogue practice being followed by other shipping lines/agents.
Agar, in a press statement, further elaborated that due to unfair practices
for earning high profits, the shipping lines/agents are generating billions
of rupees whereas as importers/exporters face losses as counter effect.
Agar said that in the wake of claiming additional charges by shipping
lines/agents the per container charges are now raised from Rs.18000
to Rs.23000, nevertheless, alongside, the terminals are also collecting
handling charges Rs.16200 per container. Agar voiced that shipping lines/agents
even in the adverse economic scenario in the country are earning billions
of rupees whereas the importers/exporters are being penalized in the
presence of manifold problems viz. High cost of doing business, multiples
taxes and levies etc.
Agar feared that since the inflation is already touching the sky, such
unfair acts bring an inflationary effect and upshot in the prices of
commodities, essential items and raw materials. Agar appealed the Federal
Ministers and concerned quarters to look into this long withstanding
matter and suggested a formation of vigilance committee to monitor the
shipping lines/agents. Agar further recommended that imposing/withdrawing
of regular or additional charges should only be enforced with consent
of commerce ministry and consultation of stakeholders/ trade bodies
and unfair and adamant practices of shipping lines/agents be eradicated.
on expansion course in India
Groundbreaking for high-tech plastics facilities
LANXESS is continuing the expansion of its Indian production site in
Jhagadia, Gujarat state. The specialty chemicals group broke ground
for new compounding facilities with an initial capacity of 20,000 metric
tons per year. These facilities will start producing the high-tech plastics
Durethan (polyamide) and Pocan (polybutylene terephthalate) at the beginning
of 2012. The investment of more than EUR 10 million will create 60 new
provides the perfect platform to strengthen our position as a premium
supplier to our customers not only in the rapidly-growing local market
but also in the Asia-Pacific region," said Rainier van Roessel,
LANXESS Board Member at the groundbreaking ceremony.
India is on
course to become the third largest consumer market for high-tech plastics
after the United States and China, driven by the automotive industry
that is set to grow by more than six percent per year. Global automakers,
as well as their suppliers, are already active in India or are investing
in new plants in the subcontinent. It is above all the growing middle-class
in India that is driving the trend towards greater mobility
invests €90m in growth strategy to supply world's largest pulp
AkzoNobel has signaled its strategic intent to accelerate growth by
investing close to €90 million in a new facility being built in
Brazil. The plant, operated by the company's Pulp and Paper Chemicals
business, Eka Chemicals, will supply the world's largest pulp mill.
The agreement -
with Eldorado Celulose e Papel - emphasizes the importance of high growth
markets to AkzoNobel and will help drive the medium-term strategy of
doubling revenue in Brazil to €1.5 billion. It also underlines
the value the company attaches to securing long-terms partnerships with
The investment -
AkzoNobel's biggest ever in Latin America - is centered on further expanding
Eka Chemicals' sustainability focused Chemical Island concept. It will
involve supplying, storing and handling all chemicals for the 1.5 million
tons per year green field mill, which is being constructed in the northern
part of Três Lagoas City. The mill is expected to come on stream
in September 2012.
agreement confirms our intention to accelerate growth and expand our
activities in the world's high growth regions," said Rob Frohn,
the AkzoNobel Board member responsible for Specialty Chemicals. "We
are about to make one of the biggest investments in our history, which
emphasizes both the importance of Latin America to our growth ambitions
and our commitment to the pulp and paper industry."
Added Pulp and Paper
Chemicals General Manager Jan Svärd: "Future demand for pulp
and paper chemicals in Latin America is projected to increase substantially
over the next 15 years. This agreement therefore represents an exciting
opportunity for us to expand our operations in the region and further
underlines the value our customers attach to our Chemical Island concept."
He went on to explain
that Eka Chemicals will be building a world scale sodium chlorate production
unit to supply the projected demands of the Eldorado mill, which has
been designed to accommodate three pulp lines. The new Eka Chemicals
facility will also supply other key customers in Brazil. Work on the
new pulp mill site started in June last year.
Commenting on the
agreement, Eldorado President Rogerio D'Alcantara Peres, said: "Building
the world's largest pulp mill requires working with reliable partners
who can provide the best technology. AkzoNobel's proven Chemical Island
concept, together with the company's world class expertise and strong
commitment to sustainability, meant that they were a natural choice
for this major project."
The new facility
will expand Eka Chemicals' well established pulp and paper activities
in Brazil, where the business already operates its Chemical Island concept
at several mills, as well as running production units in Jacareí,
Eunapolis, Três Lagoas, Rio de Janeiro and Jundiaí.
Announces Capacity Expansion at Singapore Polyetheramines Plant
WOODLANDS, TX The Performance Products division of Huntsman Corporation
(NYSE:HUN) today announced that it is going ahead with the engineering
design for a 40,000-ton capacity expansion program at its world-scale
polyetheramine facility in Singapore.
plans to invest more than $70 million at its Jurong Island plant in
a move that will more than double the sites manufacturing capabilities,
help satisfy increasing global demand for polyetheramines and strengthen
the companys leadership position in this technology. In the last
five years, Huntsman the worlds leading polyetheramine
producer has seen interest in its JEFFAMINE® amines accelerate
are typically employed in epoxy coatings or in additives that enhance
the performance of fuels, concrete and pesticides. With new amine applications
emerging all the time, Huntsman is forecasting significant mid-term
growth in the sector.
Monteith President of Huntsmans Performance Products division
said: When our Jurong site first opened in 2007 it was designed
to produce 16,000 tons of polyetheramines per annum. However, in the
last few years demand has begun to outstrip production capabilities
across our three main production sites in Singapore; Conroe, Texas;
and Llanelli in Wales. Adding this extra 40,000 tons of capacity in
Asia is in line with our regional growth projections for the next decade
and will optimize our global manufacturing footprint for specialty amines,
enabling us to flex and respond more quickly to customer requirements.
Huntsman already has a significant position in the market, it expects
demand for its JEFFAMINE® amines range to intensify across all regions
over the next decade, particularly in Asia-Pacific where volume
is set to grow by at least 10% per year.
Huntsman is a global manufacturer and marketer of differentiated chemicals.
Its operating companies manufacture products for a variety of global
industries, including chemicals, plastics, automotive, aviation, textiles,
footwear, paints and coatings, construction, technology, agriculture,
health care, detergent, personal care, furniture, appliances and packaging.
Originally known for pioneering innovations in packaging and, later,
for rapid and integrated growth in petrochemicals, Huntsman today has
11,000 employees and operates from multiple locations worldwide. The
Company had 2009 revenues of approximately $8 billion. For more information
about Huntsman, please visit the companys website at www.huntsman.com.
DuPont Protection Technologies Announces
Global Price Increases
Increases Include DuPont Kevlar®, Nomex®, Tyvek®,
RICHMOND, Va., DuPont Protection Technologies announces price increases
of 5 to 10 percent on all product lines depending on product type and
geographic location. The increases include key brands DuPont Kevlar®,
Nomex®, Tyvek® and Sontara® and are being implemented immediately
or as contracts permit. Details surrounding the new prices will be communicated
locally in each country.
Technologies is a leader in technologies and products that protect people,
the environment and critical assets worldwide.
is a science-based products and services company. Founded in 1802, DuPont
puts science to work by creating sustainable solutions essential to
a better, safer, healthier life for people everywhere. Operating in
more than 90 countries, DuPont offers a wide range of innovative products
and services for markets including agriculture and food; building and
construction; communications; and transportation.