Page 12 - July-August-2020

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Carpet exporters demand

government formulate policy

for international exhibitions

The Pakistan Carpet Manufacturers and Exporters limited stalls at Domotex this year, compared to
Association (PCMEA) has demanded that the Indian carpet exporters, who had set up about 300
government of Pakistan formulate a comprehensive stalls. He said that this was because of the lack of
policy to help exporters participate in international financial assistance from the government.
exhibitions and in turn boost exports for the country.
He added despite facing multiple crises, PCMEA had
While talking to a delegation of PCMEA office participated in Domotex and they hoped that this
bearers, Chairman Muhammad Aslam Tahir said that would help the carpet industry boost its exports. He
there was a dire need of active participation of said the government should give incentives to carpet
Global trade slips to lowest
Pakistan in international exhibitions such as exporters and come up with a comprehensive policy
Domotex. For this, he said the government should for such international exhibitions. He also demanded
chalk out a comprehensive policy for ensuring the
in recent history, further
participation of carpet exporters. the government ensure the settlement of refund as
soon as possible to end the shortage of capitals
Aslam Tahir said that Pakistani exporters had a very being faced by carpet manufacturers.
stagnation projected

PU signs MoU with African
The global trade has been recorded as the lowest in towards more consumption and services. Whereas,
the recent history with estimated global GDP growth India is set to grow rapidly as its growth model is
to have been 2.9% this year and projected to remain different. However, India’s contribution to global
Aleenah Agricultural Services
around 3% for 2020-21, down from the 3.5% rate trade growth will not be enough to substitute for
projected a year ago. Things are not looking to China as a global engine for traditional manufactur-
pick-up in the coming years as economic slowdown ing.
is predicted to continue for the foreseeable future. New technologies and their adoption is also playing
for using its transgenes
Major economic powers are also seeing a slowdown a big role with regards to global economic changes.
as the GDP growth of the United States is expected Digitalisation is transforming finance, business
to slow to 2% by 2021. Japan and the EU is expect- models and value chains, through three main
cotton seed
ed to be around 0.7 and 1.2% respectively. China’s channels: investment, skills and trade. So far, only a
growth is estimated to continue sliding down to small fraction of businesses appear to have
around 5.5% by 2021. Other emerging-market successfully adopted the strong productivity poten-
economies are expected to recover only modestly. tial of digital technologies, which partly explains why
According to the agreement, the African company will develop and commercialize cotton transgenic CKC
digitalisation has been unable to offset other head-
technology of CEMB and transgenic cotton hybrids developed by the company using CKC events of CEMB.
Trade restrictions are also playing a major role in the winds on aggregate productivity.
economic slowdown. Around 1,500 new trade
The company will be exclusively introducing it in twelve cotton-growing African countries i.e. Sudan, Chad,
Ethiopia, Nigeria, Burkina Faso, Mali, Benin, Mozambique, Tanzania, Uganda, Zimbabwe and Zambia.
restrictions have been put in place by G20 econo- There is a need for reducing policy uncertainty,
mies since 2008 and this trend continues with a rethinking fiscal policy, and acting vigorously to
Addressing the ceremony, PU VC Prof Niaz Ahmad said that this was the role of universities to contribute
surge in trade restrictions in the past two years. address challenges raised by digitalisation and
climate change. A look at and changes in all such
towards socio-economic development of the country. Dr Nuri said that PU technology would play an important
factors has the potential to reverse the current
role in the development of the cotton industry in African countries and 12 cotton-growing African countries were
The Chinese economy is also structurally changing,
rebalancing away from exports and manufacturing economic trajectory and to ensure future growth.
going to benefit from the technology developed by PU scientists.
November/December 2019
July/August 2020