ISLAMABAD, Sept 9: Prime Minister Shaukat Aziz has directed the Trading Corporation of Pakistan (TCP) to purchase more than the targeted cotton for ensuring price sustainability. The prime minister made the direction during the meeting to review the cotton crop production in the country here on Thursday.

The TCP has been given the target to purchase 100,000 bales so that the growers could get fair return of the crop. Aziz directed the concerned authorities to ensure that the farmers get adequate price of their crop and the TCP remained active throughout the season. The meeting was informed that the cotton crop was in good condition and the production was likely to exceed the target of 10.7 million bales.

Meanwhile, the prime minister has directed the commerce ministry to come up with 6-8 point goals with a specific timeframe to increase not only volume of exportable products but also explore new markets.

Well-placed sources told Dawn on Thursday that the prime minister also asked the ministry to work out in detail product-wise projection of exportable products with a timeframe to be achieved.

The sources said that Pakistan's exports are highly concentrated in few items namely - cotton, leather, rice, synthetic textiles and sports goods. These five categories of exports accounted for about 80 per cent of total exports during 2003-04.

Of these five categories export of textile manufactures stood at $8.19 billion during the year 2003-04, which constituted 65.9 per cent of the total exports during the year under review.

Similarly, Pakistan is trading with large number of countries but its exports are highly concentrated in few countries. Slightly above one half of Pakistan's exports went to seven countries -- the US, the UK, Dubai, Germany, Hong Kong, Saudi Arabia and Japan.

Meanwhile, the ministry of commerce will give detail presentation to the prime minister on Friday on the initiatives announced in the trade policy 2004-05, performance of trade during the first two months of the current fiscal year and reviewing performance of trade officials posted abroad.

The sources said that senior officials of the ministry will give detail presentation, particularly on the massive increase in the trade deficit during the first two months of the current fiscal year and measures to curtail it. Pakistan's trade deficit increased by 359.4 per cent during the first two months (July-August) of the financial year 2004-05 over the same period of last year.

The prime minister will also be briefed on the measures taken for maintaining the export share of textile manufactures in the post quota regime to be started by January 1, 2005.

The officials would brief him on the trade implications under the World Trade Organization. The major issue for discussion would be the implementation of the initiatives announced in the trade policies of 2003-04 and 2004-05.