AGL 40.00 Decreased By ▼ -0.01 (-0.02%)
AIRLINK 127.00 Decreased By ▼ -0.99 (-0.77%)
BOP 6.68 Increased By ▲ 0.08 (1.21%)
CNERGY 4.49 Decreased By ▼ -0.11 (-2.39%)
DCL 8.60 Increased By ▲ 0.12 (1.42%)
DFML 41.30 Decreased By ▼ -0.18 (-0.43%)
DGKC 86.71 Increased By ▲ 0.13 (0.15%)
FCCL 32.16 Increased By ▲ 0.02 (0.06%)
FFBL 64.70 Decreased By ▼ -0.72 (-1.1%)
FFL 10.29 Increased By ▲ 0.04 (0.39%)
HUBC 109.51 Decreased By ▼ -0.98 (-0.89%)
HUMNL 14.90 Increased By ▲ 0.15 (1.02%)
KEL 5.05 Decreased By ▼ -0.08 (-1.56%)
KOSM 7.40 Increased By ▲ 0.28 (3.93%)
MLCF 41.39 Decreased By ▼ -0.26 (-0.62%)
NBP 60.60 Increased By ▲ 0.51 (0.85%)
OGDC 190.00 Decreased By ▼ -4.69 (-2.41%)
PAEL 27.81 Decreased By ▼ -0.14 (-0.5%)
PIBTL 7.75 Decreased By ▼ -0.25 (-3.13%)
PPL 149.75 Decreased By ▼ -1.42 (-0.94%)
PRL 26.73 Decreased By ▼ -0.15 (-0.56%)
PTC 16.18 Increased By ▲ 0.18 (1.13%)
SEARL 86.02 Increased By ▲ 7.82 (10%)
TELE 7.72 Increased By ▲ 0.33 (4.47%)
TOMCL 35.58 Decreased By ▼ -0.09 (-0.25%)
TPLP 8.14 Increased By ▲ 0.23 (2.91%)
TREET 16.51 Increased By ▲ 0.62 (3.9%)
TRG 53.35 Increased By ▲ 0.59 (1.12%)
UNITY 26.28 Decreased By ▼ -0.27 (-1.02%)
WTL 1.26 Decreased By ▼ -0.01 (-0.79%)
BR100 9,889 Decreased By -31.1 (-0.31%)
BR30 30,611 Decreased By -140.9 (-0.46%)
KSE100 93,355 Increased By 130.9 (0.14%)
KSE30 28,931 Increased By 46 (0.16%)

Federal government has ruled out any possibility of cut in edible oil duty in the upcoming budget 2007-08. Addressing a press conference at PIDC House on Thursday Jehangeer Tareen, Federal Minister for Industries, said that despite all time high prices in the international market, there is no plan under considering to cut the import duty on palm oil import, as government believed that this relief would not pass on to masses.
However, he said that government would announce subsidy on essential items including ghee and cooking oil through utility stores aimed to provide relief to the general public. He said that edible oil prices have been raised by 40 percent in the international market and around 20 percent in the local market, while country depends over 75 percent of import of edible oil, therefore government is focusing targeted subsidy to reduce the prices of food items.
"Government is planning to introduce new industrial estates aimed that industrial growth is the main objective of the economy," he said and added that three new industrial estates would be established in the Karachi.
He said that a modern and state of the art industrial estate is being established at Super Highway on 250 acres , where the all necessary facilities would be provide to the industries through one window operation. Another industrial estate on 1000 acres would be develop at Port Qasim on the land of Pakistan Steel, while the third industrial zone for small and medium enterprises would be establish at Korangi for the promotion of engineering goods, he informed. He said that government would remove hurdles in the import of industrial machinery and units by rationalising the import tariff in the next budget to promote the industrialisation in the country. An industrial estate also has been planed at the new developing port city of Gwader and government of Balochistan has granted it permission by allotting around 1000 acres part of land, he said.
He said that government has decided to formulate some rules for export processing zones with collaboration of stakeholder adding, "we have instructed to the Karachi export processing zones representatives that they should be submit their proposals by the end of July".

Copyright Business Recorder, 2007

Comments

Comments are closed.