Pakistan textile exporters fear USD2bln decline in exports

(yarnsandfibers) -- Textile exports have declined by USD1.3 billion during the last seven months and they will further come down by USD2 billion by the end of this fiscal year if the recommended Rs 30 billion is not allocated for the local taxes drawback in the budget.

These apprehensions were expressed by Pakistan Textile Exporters Association chairman Rana Arif Tauseef in a press statement here on Tuesday. "Barring first three months of the current financial year, the textile exports have recorded continuous decline ranging from 10 per cent to 19 per cent over the last seven months," he said, adding that the decline would further widen this month.

About different hurdles in the way of textile exports, the PTEA chief said that huge amounts of exporters were stuck up in local taxes drawback scheme, custom rebate, sales tax and federal excise duty refund. "Exporters will be able to expand their export if their funds are released immediately. The Textile Ministry had recommended Rs 30 billion for local taxes drawback, but the recommendation has not been included in the budget."

He asked the government to take notice of the difficulties being faced by exporters as well as the decline in textile exports and take immediate steps to allocate Rs 30 billion. The PTEA chairman said that since the exporters were paying 0.25 per cent export development fund, the amount should not be allocated to the TDAP but to exporters to help increase the exports of the country.
MRC

(plasteurope) -- Leading high street retailer Marks & Spencer (M&S, London / UK) is now using 26% less packaging than when it introduced its "Plan A" sustainability project in 2007.

It has also saved 1.7 bn carrier bags over the same period. These are two of the key results from the packaging reduction initiatives introduced in Plan A and now highlighted in the company’s five-year analysis, "How We Do Business Report", released on 7 June.

M&S now recycles 100% of its waste, with nothing going to landfill, and it says it is the first major retailer to become carbon neutral, following certification of all M&S-operated stores, offices, warehouses and delivery fleets in the UK and the Republic of Ireland.

During the five years of Plan A, M&S has simplified the number of packaging materials it uses and maximised their recycled content, where possible. PVC was removed from all food packaging several years ago and M&S is also making headway in replacing polystyrene, for example with pulped paper trays for packaging of pears. Other examples of the moves to sustainability include a 25% reduction in the weight of non-glass packaging by 2012, a 33% drop in carrier bag usage by 2010 as well as a 17% decrease in the weight of packaging for general merchandise for home deliveries by 2011.

Last year alone an estimated 147m clothes hangers were collected for reuse and recycling. On the negative side, in 2011/12 M&S used 269m one-trip carrier bags, a reduction of 59% compared to the 657m used in 2006/07, but up 8% on the 248m used the previous year.
MRC

(chemmonitor) -- Financial performance of petrochemical manufacturers from the Gulf Co-operation Council demonstrated certain growth through the first three months of the current year from Q4, 2011. For instance, earnings of the companies went up by around one quarter.

Stronger results were based on a sales boost during the period coupled with higher prices for petrochemicals.

Sales costs increase observed in Q1 impacted the firms. This led to the earnings drop by over one tenth if compared to January-March, 2011.
MRC

MOSCOW (MRC) -- Export prices of American PVC stopped falling. Many North American suppliers have already completed their shipments. Some suppliers intend to get a price rise for July shipments, as per MRC analysts.

On the back of low demand in the foreign markets the suppliers of the North American PVC agreed to drop prices dramatically for June shipments in order to boost sales. The quotations of resin from the USA in the Russian market had been adjusted weekly and by mid-June they had slumped below USD900/tonne, CFR St.-Petersburg. The suppliers had to decrease their prices significantly, even sell at a loss to fulfill their obligations to US plants.

Weekly PVC price adjustment and May devaluation of the Russian rouble against the dollar made many Russian traders suspend their purchases of resin from the USA. The companies anticipated a price decrease below the level of USD900/tonne, CFR St.-Petersburg. The situation in the market aggravated after the shipments of resin in late May, which were made as per the April contracts: USD1,070-1,090/tonne, CFR St.-Petersburg. Importing companies had to fulfill their debt liabilities to suppliers as per a new exchange rate of the rouble. Yet, the bargains for June shipments were concluded. However, the volume of purchases has fallen several times comparing to the previous months.

This week many suppliers of the North American PVC reported that they had finished their sales of resin for June. The prices for the future shipments will not be known until next week. Some suppliers report that the lower prices are unlikely to adjust for June shipments even taking into account the price reduction from the US plants. Traders have incurred heavy losses in the June contracts and will try to compensate for them in July.

MRC