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Old Monday, September 29, 2008
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Government focusing on achieving export target of $22.1 billion


ISLAMABAD
(September 29 2008)


The government is focusing on the diversified sectors to achieve the export target of US $22.1 billion set for the current financial year. Sources told agency that a series of steps have been taken to boost exports of pharmaceutical items, gems and stones, furniture and herbal medicines.

In view of the good prospects of pharmaceutical export, the government has decided to support setting up of new pharmaceutical plants by providing an incentive of 90 percent exemption in the first year on investment in plant, machinery and equipment.

Gold, silver, platinum, palladium, diamond and precious stones would be exempted from levy of customs duty and sales tax with a view of increasing their exports. Further, Ministry of Industries would set up a wood seasoning plant and Navtec will set up a couple of vocational training centres on modern lines to promote export potential of furniture.

Similarly, a Flora Common Facility Centre would be set up in collaboration with Punjab government near Lahore while an Irradiation Facility in Karachi to promote floricultural exports.

To promote export of herbal medicines, 50 percent cost of registration of herbal medicines abroad would be picked up by the government. There will be an especial focus on promotion of various activities related to the Prime Minister's programme of "one village one product" with a view of promoting export of handicrafts. The sources said the export policy announced by the present government for the current year 2008-09 is aimed at poverty alleviation, value addition, compliance with international standards, reduction in cost of doing business and diversification of products and market.


Copyright News Network International, 2008



New industrial units could fight unemployment



LAHORE
(September 29 2008)


The Founders' Chairman, Dr Khalid Javed Chowdhry on Sunday has said that setting up new industrial units could only fight the dangerously increasing unemployment. He said the government is not solely responsible for resolving issues, the industrialists and investors too, should carry the task of overpowering the crisis that the country was passing through.

Dr Khalid who recently received Medipak Achievement award said that heavy responsibility lied on pharmaceutical companies as they have a direct link with human lives.

He stressed upon the government to pay attention to the issues faced by the public. Further, he stated that industrial representatives should be taken into confidence while evolving industrial policies.

He criticised few trade chambers that were taking illegal actions to protect their monopolies and asked them to concentrate on the issues and difficulties that the members were facing.


Copyright Business Recorder, 2008



Pakistani handicrafts have global demand



LAHORE
(September 29 2008)


'Pakistani handicrafts are in great demand in foreign countries and we can earn a lot of foreign exchange by exporting them,' the Chairman, Chief Minister's Task Force for Industrial Development and SME's, Yawar Irfan Khan said.

He said this to a delegation of industrialists at his residence on Sunday. Stressing the need of arranging exhibitions of non-traditional items of Pakistani artisan abroad where they could display their items directly, he said, the artisan would be encouraged to promote the handicrafts and they would be given export training. Further, the Chairman emphasised on introducing modern marketing system for enhancing the export of non-traditional items as per global requirement.

Copyright Business Recorder, 2008


Pakistan keen to promote economic collaboration with China


ISLAMABAD
(September 28 2008)

Foreign Minister, Makhdoom Shah Mahmood Qureshi has said that Pakistan is keen to promote economic collaboration with China and is aiming to raise the bilateral trade from $7 billion to $15 billion by 2011. He stated this during his meeting with the Chinese Foreign Minister Yang Jeichi on the sidelines of the 63rd UN General Assembly session, says a Foreign Office statement here on Saturday.

Qureshi said that he was looking forward to visit China with President Asif Ali Zardari in the middle of October. The President valued China's friendship, which was demonstrated by his decision to send his son for the opening ceremony of the Olympic Games, he said.

Chinese Foreign Minister Yang Jeichi said that China was proud to have assisted Pakistan and had done its best to advance co-operation. China would endeavour to continue this co-operation in the future as well. He said that China attached great importance to the PPP government's commitment to promote friendly relations with China.

The Chinese government, he underlined, was concerned about the security of its nationals in Pakistan. China appreciated the complexity of the matter and the efforts made by the Pakistan government for their safe release.

Foreign Minister Qureshi assured the Chinese Foreign Minister that the safety of Chinese nationals was important to Pakistan and it will do everything to ensure their protection. Meanwhile, Makhdoom Shah Mahmood Qureshi also called on Foreign Minister of Ireland, T D Martin on the sidelines of the 63rd session of the UN General Assembly in New York. The Foreign Minister appreciated the award conferred by Ireland on Shaheed Mohtarama Benazir Bhutto. She had visited Ireland in 1994 and wanted to cultivate close relations with it.

The Foreign Minister requested the Irish Foreign Minister to open its embassy in Pakistan, which would give further impetus to the bilateral relations. He also requested the Irish Foreign Minister to encourage investment by Irish companies in Pakistan.

He invited Ireland to participate in the Food Technology and Agricultural Show, Expo 2008 and the Ideas exhibition. He said that Irish companies were already present in Pakistan in several fields including the power sector and oil exploration. He said as part of its Asia strategy, Ireland wished to develop strong economic relations with Pakistan. He felt that Pakistanis were playing a prominent role in Ireland and welcomed their presence in the country.


Copyright Business Recorder, 2008
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