China traders to explore Pakistan

KARACHI: Muhammad Haroon Agar, Chairman, Pakistan Chemicals & Dyes Merchants Association, in a press statement, stated that on his invitation, a delegation of 24-member Business Tycoons of a large Chinese industrial group is visiting Pakistan on 20th January, 2011 to explore the opportunities to setup industrial base for raw-materials in the country.

Agar articulated that owing to exorbitant and unprovoked additional charges of shipping lines for earning high profits and increased valuation advices, the import business is facing a persistent upshot from the rising cost of doing business to an alarming situation.
Agar said that such unwarranted increase in prices of imported items and raw-material is acting as detrimental for the businesses.

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Posted in: China,Chinese,cost,delegation,exchange,explore,foreign direct investment,group,investment,investors,Pakistan,Pakistan Chemicals Dyes Merchants Association

Textiles export grows by 23pc

KARACHI: The export of textile products showed an improvement of around 22.7 per cent in the initial five months (July-November) of current financial year against the same period of the last year, Federal Bureau of Statistics (FBS) reported Thursday. According to the official data, export of textile industry reached $5.12 billion in the period under review against $4.17 billion during the same period of previous year. The improvement in textile export was mainly attributed to higher per unit price of Pakistan textile products, otherwise quantity exported of mostly all the products under the category witnessed decline.
As per details available, ready-made garments export increased by 33.1 per cent to $653 million against $490 million in 5MFY10. Similarly, cotton cloth, knit-wear, bed wear and towel exports increased by 27.9 per cent, 20.7 per cent, 14.2 per cent and 7.3 per cent to $901 million, $928 million, $822 million and $293 million respectively.
Similarly, food group export registered an increase of 7.3 per cent to $1.19 billion in 5MFY11 versus $1.11 billion in 5MFY10.
In food group, rice export registered a jump of 11.9 per cent to $ 779 million against $696 million export of rice witnessed in 5MFY10, whereas fish and fish preparation export surged 34.3 per cent and fruits by 0.5 per cent over the same period last year.

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Posted in: billion,cent,Federal Bureau,Federal Bureau of Statistics,food,group,increased,July November,Karachi,Pakistan,review,rice