Little cause for cheer in Pakistan September export figures

13/10/2003

Pakistan's leather sector turned in a  poor performance during first quarter of current financial year July-September '03, falling 9.32% to $172.048 million compared with the year before.

 

Of the total, finished leather exports were down 20% to $47.237 million and leather goods down by 5.5% to $107.7 million.  A 2% rise was seen in footwear exports, to $17.2 million.  There was no better news in the September 2003 figures as finished leather exports plummeted 45.5% to $11.1 million and leather goods -20% to $35.5 million.  Footwear exports were down 36% to $5 million.

 

Meanwhile, Mr. Fawad Ijaz Khan, Chairman, Pakistan Leather Garments Manufacturers & Exporters Association (PLGMEA - Central) has thanked Mr. Humayun Akhtar Khan, the Federal Commerce Minister for revalidating Temporary Importation Circular No. 410(1)/2001, which was withdrawn on 30th September 2003. Mr. Fawad had previously called on the Minister to remove the prevailing uncertainty among value-added exporters by specifying the extension, as no definite date for the extension of Circular No. 410 has been announced.

 

The government intends to replace Circular No. 410(i)/2001 by Duty & Tax Remission for Export (DTRE) Scheme.