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2003-8-8
The Pakistan Cloth Merchants Association (PCMA) is demanding Ministry of Commerce to allow over-programming for EU quota for categories 2, 2-A, 3 and 20 in the larger interest of Pakistan''s exports.
The association has requested the secretary commerce to take immediate steps in this regard. Referring to his telephonic conversation with the secretary commerce, the Chairman, PCMA, Ahmed Chinoy said, "each year, in the months of June and July, over-programming in the range of 15 to 20 per cent is allowed under EU categories 2, 2-A, 3 and 20. But this year, it has not been allowed so far".
He went on to say, "this delay has increased the quota premium, making exports uncompetitive in the market. Resultantly, exporters are not able to meet their commitments". Chinoy pointed out that the recent increase in prices of cotton has also resulted in the increase in cotton yarn prices thus adding to the miseries of the exporters of fabric and value added goods.
"In order to achieve the export target of $12.1 billion for the year 2003-2004, it is requested that immediate steps be taken by the Commerce Ministry for the availability of over-programming to the extent of 20 per cent in these categories", PCMA''s chairman said.
"This would discourage the quota premium and excess availability of quota in the market would reduce its price", he added. He pointed out that exporters of fabric and value-added items have built-in large inventories in anticipation of lower quota prices.
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