May 1, 2003	Thursday	Safar 28, 1424

LAHORE, April 30: Export Promotion Bureau (EPB) Chairman Tariq Ikram may lead a business delegation to Kuwait on May 12 or 13 to enable Pakistani companies to establish close links with their Kuwaiti counterparts and secure contracts in reconstruction of Iraq.

“The US companies that have already been awarded contracts for the reconstruction of Iraq would be subletting the job to Kuwaiti companies. The Kuwaiti firms would award the contracts to foreign firms. The time is running out. But even if we manage to link our companies with the Kuwaiti firms, we’ll be able to secure a share in Iraq’s reconstruction,” Mr Ikram told local businessmen at the Lahore Chamber of Commerce & Industry here on Wednesday.

The chairman said the EPB had already identified the Pakistani companies with potential to benefit from the “opportunity offered by the soon-to-begin reconstruction work in Iraq”. He said he was “interested in taking the delegation in two weeks as the American companies were expected to be in Kuwait by May 17”.

In order to market Pakistani companies, he said, the EPB would also hold single country exhibitions in Kuwait and Turkey. He was of the view that Pakistani companies stood a better chance to obtain contracts in Iraq because of Pakistan’s “goodwill” in that country. “The Iraqis trust Pakistan because we have done business with them in such sectors as construction, railways, agriculture, education, etc, during the last three years or so. Our exports to Iraq have also gone up to $100 million in this period from a mere $2 million.”

Mr Ikram also recounted the “efforts of the government and the EPB during the last three years to boost Pakistan’s exports”. “We have not only diversified our export products but also explored new markets, especially in Africa and Eastern Europe. Our exports to Africa have gone up by 41 per cent and to Eastern Europe by 35 per cent.” He said the export road-map given in 2000 was producing results.

DTRE: Mr Ikram said the DTRE scheme would be further perfected by making the proposed changes in it. However, he added, “certain issues involved amendments in the laws which will be announced at the time of budget in June.” Nonetheless, the issues that involve rules will be settled and changes notified by the CBR in a couple of weeks.

On the issue of the delay in the release of export refunds, he asked the businessmen to apprise him of specific cases so that he could take up the matter with the CBR.

WAREHOUSING: He said the EPB had decided to acquire warehouses in Kenya and Poland which were expected to become operational by the end of July. He said the warehouse in Kenya was estimated to cost the EPB Rs16 million per year and the one in Poland Rs20 million. He said certain expense of warehousing would be borne by the EPB, and the rest would have to be shared by the exporters using that facility.

He added the EPB also intended to acquire warehousing facility in the East and West coasts of the US, Australia, Newzealand, and the UK.

EXPORT INSURANCE: Mr Ikram said an export credit insurance scheme had already been launched and a London-based underwriter engaged. The scheme, he said, had been started to give a sense of security to exporters doing business in new markets and with new buyers.

“A business of $25 million has already been covered under the scheme whose scope will be expanded in the coming months,” he said.

IMAGE: The EPB chairman said the EPB had also launched a drive in the US, the UK and some other countries to improve the business image of Pakistan.