KARACHI, March 8: The Export Promotion Bureau has launched a scheme for warehousing Pakistani products in Eastern Europe, South America, Africa and Central Asian Republics, Australia and New Zealand.

To discuss the parameters of the warehousing schemes, Chairman, EPB, Tariq Ikram, held a meeting on Friday at the EPB with persons engaged in export, warehousing and freight business.

The participants discussed at length the aspects and issues of the scheme which included — selection of export products for warehousing abroad, criteria for eligibility of exporters whose request for warehousing may be accepted, distribution and marketing of warehoused products, maximum period of warehousing, possibility of selling goods remaining unsold after a period of time at prices below the invoice value, maximum period for repatriation of sale proceeds, identification of suitable existing warehouses abroad for hiring by the EPB and financial assistance from Export Development Fund — rent for the first year.

One of the participants said that the EPB intended to hire warehouse space of about 10,000 to 30,000 sq feet.

He said this scheme had been developed for ex-stock sales of textiles, rice, leather, sports goods, surgical instruments and other goods. The expense will be borne by the EPB from the EDF.

According to convener of Union of Small and Medium Enterprise (UNISAME), Zulfiqar Thaver, who attended the meeting, the EPB will offer space to exporters after determining their credentials and evaluating their export programmes.

He said that the EPB chief had informed the participants that various companies were willing to offer their services for distribution and marketing of goods as well. These companies have also assured to generate orders from various companies besides helping in delivering supplies outbound and do inventory management.