960423

Exports expected

to increase by

14.2pc despite

carpets fall

TANVIR ZAHID

LAHORE: Pakistan's exports were estimated to increase by 14.2 percent despite carpets being down by 36.9 percent and synthetic textiles by 13.0 percent during the current financial year as compared to last fiscal.

According to facts and figures available from the Planning Commission sources in Islamabad to Business Recorder, as a result of adverse propaganda in foreign countries regarding child labour involvement in carpet manufacturing, the carpets export would be about 36.9 percent lower at the level of $125 million in 1995-96 against $198 million during the last financial year.

Similarly, synthetic textiles exports were likely to be down by 13.0 percent during the current financial year at $500 million against $575 million last financial year.

With two commodities registering marked fall in exports, raw cotton was likely to touch the figure of $563 million during 1995-96 against $62 million during 1994-95, because raw cotton, which constituted one of the major sources of Pakistan's foreign exchange earnings, suffered setback during the preceding three years (FY 93-95) and its exports had almost disappeared. This would be as high as 808.1 percent increase in raw cotton exports this year at last after three years cycle of bad crop and persistent curl leaf attack.

Sources pointed out that with a bumper cotton crop in FY 96, normal exports of raw cotton had been resumed.

In fact, 1.2 million bales of cotton had already been shipped during the first eight months of current financial year i.e. July 1995 to February 1996.

Export of rice is expected to be up by 43 percent from $454 million to $649 million, textile made ups by 8 percent from $648 million to $700 million, fish by 7.8 percent from $154 million to $166 million, garments by 5.9 percent from $642 million to $680 million, leather by 4.8 percent from $272 million to $285 million, yarn by 3.1 percent from $1528 million to $1575 million, fabrics by 1.7 percent from $1082 to $1100 million, hosiery by 1.6 percent from $689 million to $700 million, and others by as much as 15.5 percent from $1833 million to $2117 million during the years 1994-95 and 1995-96 in comparison respectively, sources pointed out while giving facts and figures of Pakistan's major exports during last and current financial year.