Pakistan : Textile Exporters Told To Complete 2004 Shipments By June 30

To avoid the risk of non-acceptance by customs due to over-shipments foreign buyers have asked Pakistani textile exporters to complete shipments of 2004, the last quota year, by June 30.

The advice has been given by the buyers from the US and Europe, currently visiting Pakistan in large numbers to place orders for towels, garments and bed linen.

The buyers were deflected to Pakistan due to prevalent Sars epidemic in China.

They said that the exporters would have to bring back the goods if rejected by customs due to excess shipments.

Earlier, the goods declared over-shipped were adjusted in the next year quota.

The exporters are devising strategy to speed up production to manufacture textile products in six months against an earlier production schedule of 12 months.

A local exporter said on Friday that he would start production in September and October this year and would store the same for the last quota year, beginning from January 2004.

There will be no problem in production except that the price of cotton and yarn would jump to unprecedented level due to unusual buying as most of the quota exporters would try to produce goods well in advance of the end of 2004.

He requested the Central Board of Revenue (CBR) to make full payment of sales tax refund to the exporters so that they could purchase raw material for the last year quota shipments.

It has also been predicted that the government agencies like the CBR would have maximum generation of revenue during the first six months of the 2005 quota year due to production schedule advanced to meet the requirements of culminating quotas.