Pakistan to export wheat to Vietnam

KARACHI — Pakistan will export wheat for the first time after two-and-a-half years. Two consignments of 1000 and 500 tonnes of wheat will be shipped to Vietnam by two different cargo ships in the next few days, port sources said.

By A Correspondent

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Published: Sat 10 Feb 2007, 8:51 AM

Last updated: Sat 4 Apr 2015, 9:54 PM

Pakistan to date has received orders amounting to 100,000 tonnes of wheat from Vietnam, Malaysia and Indonesia. Besides the government and private sector are also making concerted efforts to secure orders from Kenya, Sudan and Yemen for export.

Ships

Pakistan National Shipping Corporation (PNSC) is to acquire two oil tankers at a cost of Rs15 crores.

The finances for the purchase of the two tankers will be provided by ABN Amro Bank.

Besides the two tankers the PNSC is also considering to buy two new cargo ships next month.

To facilitate the purchase of the oil tankers and the ships the federal government would exempt PNSC from taxes.

Capital requirement

State Bank of Pakistan has set the deadline of December 31, 2007, for the banks and financial institutions to have a mandatory figure of Rs4 billion as minimum capital requirement to operate in the country. A circular of central bank directed the commercial banks to ensure compliance of Rs4 billion capital requirement on or before the deadline.The banks could face penalties in case of not fulfilling the requirement.



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