November 19, 2007

Pakistan incurs US$100-million loss due to EU ban on seafood

Pakistan incurred a loss of at least US$100 million due to EU's ban on its seafood exports, as reported by the Pakistan Seafood Industries Association (PSIA).

A PSIA senior official said that the landing of fish this season doubled up and had it not been for the ban, Pakistan could have exceeded its US$200-million target this year.

The official also said that the government convened a meeting on the fishery policy of Islamabad last Tuesday, but no representatives of PSIA, boat owners association or stake holders have been invited.

EU banned Pakistan's exports on the basis that Pakistani seafood exporters did not comply on the standards set by EU.

The EU required the batch number to indicate the boat from where the produce has come from and that the temperature should be maintained in the entire process of catching, auctioning and processing the fish.

Last year, the seafood export target was US$210 million and Pakistan managed to get a total of US$184 million. This year, the target is US$200 million.