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HIGHLIGHTS OF THE WEEK

The Malaysian palm oil exports for 1-25 December 2011 down 12 percent to 1.18 million tonnes from the quantity of 1.34 million metric tones for the same period of November 2011. It included 90,574 tonnes of RBD Palm Oil, 520,207 tonnes of RBD Palm Olein, 83,624 tonnes Palm Stearin, and Crude Palm Oil 301,734 tonnes. China was the biggest buyer by taking 272,900 tonnes. Followed by Pakistan taking 111,750 tonnes. USA and India bought 67,800 and 103,184 tonnes respectively. European countries bought 276,308 metric tones.

Provision of CNICs is made mandatory from 1st January, 2012 through SRO 821(I)/2011 by Federal Board of Revenue (FBR).

Oil Tanker Association has called the strike in response to the lifting of Edible Oil from the terminals to up-country destinations by NLC.
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The Pvma

The Pakistan Vanaspati Manufacturers Association (PVMA) came into being with only 7 units as its members in 1961. This Association has been growing remarkably and now it comprises of 94 members engaged in the manufacture of Vegetable Ghee/ Cooking Oil in the organized sector contributing around Rs.30 billion annually to the government exchequer in the form of Custom Duty, Federal Excise Duty and Income Tax etc. The PVMA member Units are not only catering to the needs of Pakistan’s whole population, but also supplying this dietary item of daily use to the people of neighboring countries. The export of the Vegetable Ghee to Afghanistan and the Central Asian States via land route through Torkum and Chamman borders is a good source to earn precious foreign exchange for our country. In addition of boosting trade relations with these countries. Previously this Association was functioning as a trade entity, under the Companies Ordinance, 1984 and now it has been duly granted license to operate as Trade Association w.e.f. 08-09-2008 by the Directorate General of Trade Organizations, Ministry of Commerce, Government of Pakistan.

PVMA is one of the largest contributors to the government exchequer contributing around Rs. 30 billion annually to the government exchequer in the form of customs duty, sales tax, GST and income tax etc.

It is also among the top Associations operating as Trade Organization. Moreover, it provides employment, direct and indirect to more than 100,000 persons. PVMA member units annual production capacity is around 3.0 million tons with the facility to produce both high quality Vanaspati Ghee and Cooking Oils. The PVMA is an Association representing the Vanaspati Manufacturing Sector on all Pakistan basis. Its units are spread in all the four provinces and Federal Capital. For the sake of convenience the PVMA units have been divided into three Zones viz:

  • South Zone (comprising of units in Sindh and Balochistan Province),
  • Central Zone (units in Province of Punjab)
  • North Zone (units in the Islamabad Capital Territory, NWFP & AJK).

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