British companies interested to shift businesses to Pakistan
RECORDER REPORT
LAHORE (March 31 2004): British Deputy High Commissioner Hamish St Clair Daniel has said that the UK would continue to support Pakistan against levy of anti-dumping duty on Pakistan's bed linen by the European Union.
In a meeting with LCCI President Anjum Nisar, Daniel said that the UK had continuously extended support to Pakistan in its efforts against terrorism. Efforts are afoot to raise bilateral economic co-operation between the two countries, while several British companies in the fields of education & training, printing & packaging and textile & designing industry are showing keen interest to shift businesses to Pakistan.
A delegation of the British textile machinery sector would visit Pakistan and hold catalogue exhibitions and a series of seminars in Lahore, Karachi and Islamabad in September this year.
He expressed satisfaction over new developments taking place on India and Pakistan fronts.
He, however, agreed with the LCCI president that Pakistan has been subjected to negative propaganda by Western media. He hoped that the 'Investment Conference' taking place in four weeks in UK would further enhance flow of investment to Pakistan.
The LCCI president invited British companies to invest in Pakistan particularly in Gwadar and Sundar Industrial Estate to make best use of the geographic location of this free port.
Pakistan, he said, now stands close to a large market of over one billion people, having the same set of consumer preferences and nearly same climate and culture.
Investment operations based in Pakistan would not be restricted to the Pakistani market alone.
These positive developments should be studied and monitored by the commercial sections of diplomatic missions for a more objective guidance for the businesses, he observed.
To be specific, investments in agro-based packaging and processing can find an instant wide market stretching from Lahore to Lucknow and Karachi to Mumbai.
Similarly, textile value-addition and the apparel sector can also be other potential areas for investment.
In this context, South Asian origin investors can take the initiative and lead to set the ball rolling, he added.
Copyright Business Recorder, 2004
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Iran allows private sector to import rice
RECORDER REPORT
KARACHI (March 31 2004): The Iranian government has allowed the private sector to import rice on payment of 4 percent custom duty and 96 percent benefit tax.
The information has been conveyed to Rahim Janoo, founder-chairman of Rice Exporters Association of Pakistan (Reap) by Pakistan's Commercial Counsellor in Teheran.
The commitment was made by the Iranian side at the 24th session of Pakistan-Iran joint Economic Commission held in Islamabad recently.
The Iranian side committed that import of rice would be allowed with from 'new year' beginning from March 20.
The Counsellor has said that as the Iranians observe holidays for about two weeks on the occasion of their new year 'Nauroze', it was difficult to contact any official during that period.
The Pak mission, however, succeeded in contacting the Iranian officials at the Ministry of Commerce and obtained the new book of import tariff in Persian.
According to the 'book', rice can now be exported to private parties in Iran on payment of customs duty at the rate of 4 percent and commercial benefit tax of 96 percent.
The 'book' does not mention anything about import, which means that now the private sector can also import.
Pakistan's mission suggested that Reap should arrange rice packs as 'Nauroze gifts' for officials and important personalities which would help Pakistan to market its super quality rice in the Iranian market.
Since rice constitutes major portion of Pakistan's exports to Iran, Reap should be on the forefront to make marketing gestures like arranging rice packs as gifts.
Copyright Business Recorder, 2004
www.brecorder.com