19 December 2004 Sunday 06 Ziqa'ad 1425 Pakistan, China set up joint group on FTA ISLAMABAD, Dec 18: Pakistan and China have agreed to constitute joint study group (JSG) to work out measures in a period of six months for initiation of dialogue on signing a Free Trade Agreement (FTA). ... Foreign companies keen to invest in oil and gas ISLAMABAD, Dec 18: Minister for Petroleum and Natural Resources Amanullah Khan Jadoon on Saturday said foreign petroleum companies and investors have expressed their keen interest to invest in Pakistan's oil and gas projects. ... WB team briefed on EOBI performance KARACHI, Dec 18: A visiting World Bank mission was given a comprehensive briefing about Employees Old-Age Benefit Institution (EOBI) at the World Bank Country Office in Islamabad ... Joint venture with Dutch firms ISLAMABAD, Dec 18: The Netherlands Pakistan Business Council (NPBC) has been established to improve trade relations between the two countries. ... Pakistan, Sri Lanka to finalize fresh list ISLAMABAD, Dec 18: An official delegation will leave on Sunday for Sri Lanka to finalize the fresh list of items to be considered under the Free Trade Agreement (FTA) between the two countries. ... An inclusive economic development KARACHI, Dec 18: Economy and democracy will flourish in the days to come, says PML President Chaudhry Shujaat Husain. Looking at the medium-term, one can share his optimism on a robust economic growth, but the future outlook on democracy appears to be murky. ... PS to float tenders for expansion KARACHI, Dec 18: Pakistan Steel will soon float international tenders to invite applications for state-of-the-art technologies to undertake renovation and expansion project to increase steel production. ... Dullness persists on cotton market KARACHI, Dec 18: Trading activity on the cotton market on Saturday remain at the lowest ebb as spinners withdrew to sidelines anticipating fall in lint prices in the backdrop of higher than expected arrivals of phutti into the ginneries. ... Life and trade in post-quota era Two weeks from today, the global quota regime in the textile sector would fall apart. That event could transform the dynamics of international trade. ... Value-addition needs to be encouraged KARACHI: Pakistan being a single crop economy cannot afford to miss the opportunity the opining up of textile trade would create. Much, however, will depend on its players in the textiles and clothing along with the government. ... Provinces remain in the dark LAHORE: The provincial governments need to review their present economic role, outline their targets and develop their own visions in order to facilitate the industry to compete in the world market. ... Trade bodies fail to serve their purpose KARACHI: Trade bodies and associations have not done homework from their institutionalized platforms. Whatever little has been done is done privately by individuals who wanted to assess the risks against opportunities that the post-quota era will offer. ... Farm sector still in backyard The expiry of Agreement on Textile and Clothing (ATC) by the end of this year is likely to put efficiency and competitiveness of the country's spinning and textile sector on the test of zero-quota regime. ... 'Investment in textiles to spur export growth' ISLAMABAD: Commerce Minister Humayun Akhtar Khan has said his ministry is considering a package to support Pakistan's garment sector to compete with other countries, particularly China and India, in the international market. ... NWFP unaware of changing world PESHAWAR: With little industrial and agricultural base, the North-West Frontier Province has not much at stake in post-2005 era, although the province may not go unaffected by the challenges the new WTO regime would pose. ... Social compliance yet to be tackled KARACHI: Conditioned to spoon feeding, state patronage, a green house environment, generous bank loans and the facility of quick write-offs in case of default, a sellers market that is highly protected ... Marketing: a weak area KARACHI: The marketing of Pakistani goods abroad, it seems, is more difficult than one may imagine. The job becomes all the more trick in absence of proper homework by the concerned departments or the private sector. ... Ray of hope or gathering storm?: Services sector KARACHI: Is the lucrative accountancy profession in danger of falling prey to the WTO regime? A senior partner of a local accountancy firm, which is affiliated with the World's 'big four' ... Bourses stand fair chance KARACHI: Bourses may not immediately benefit from the post-textile quota era to be effective by January 2005, as they are largely linked with the performance of the export sector. ... Car-makers plan massive capacity expansion KARACHI: Car-makers eye 2005 as another year full of fortunes despite looming threats of rising import of second-hand cars under various schemes. ... Balochistan will lose nothing QUETTA: Balochistan has nothing at stake after the expiry of Agreement on Textile and Clothing (ATC) by the end of this year as no textile industry exists in the biggest province of the country. ... Pakistan least prepared for TRIPS KARACHI: Pakistan is not prepared to take on the challenges that the economy would have to face as the WTO agreement on Trade Related Intellectual Property Rights (TRIPS) comes into effect from January 2005. ... Women exporters not very hopeful KARACHI: Ending of almost 40-year cap on textile exports is heralding equal opportunities for women entrepreneurs, but it seems difficult for them to derive any benefit out of it. The reason is low capacity and non-availability of cheap finance for expansion. ... Sensitive farm items list need of the hour ISLAMABAD, Dec 18: The government, in collaboration with the stakeholders, should draw a list of items to be designated as sensitive products - not subject to duty reduction - and explore greater market access for agriculture produce. ...

© The DAWN Group of Newspapers, 2004