Export Incentives and Industrial Efficiency
Foreign exchange constraint, due to recurring balance of payments deficits, is a common feature of the developing countries. In order to boost the growth of their exports, particularly those of manufactured and non-traditional products, these countries have, from time to time resorted to various incentive schemes which have the effect of creating a dual exchange rate regime. The success or failure of these schemes has generally been judged in terms of improvement in export performance only. But these schemes have many indirect effects which have a bearing on industrial efficiency. Thus there can be situations where production may increase without regard to efficiency and exports may become profitable without being competitive. The expected long run beneficial effects of these schemes may tend to get partially or wholly negated. A prominent example of such a scheme is the export bonus scheme (EBS) of Pakistan which
The Operation of the Export Bonus Scheme in Pakistan's Jute and Cotton Industries
The author's intention is essentially to extend the Bruton and Bose study of the Pakistan Export Bonus Scheme [1], in terms of both time and commodity. However, in this paper we examine the operation of the scheme in jute and cotton industries only. In our next paper, which is now in process, we take up the other industries covered in [1] and also a few' more. Very briefly, the scheme works in the following wayt. The exporter of a "bonus commodity" surrenders his foreign exchange earnings to the State Bank of Pakistan and receives, in addition to the rupee equivalent, a voucher that entitles its owner to purchase foreign exchange equal in value to 20 or 30 per cent (depending on the commodity exported) of the amount earned. The voucher can be utilised for obtaining foreign exchange for use in a) importing a wide range of goods, b) business travels and c) opening and maintaining commercial offices abroad.
Microfiltration: Effect of retentate protein concentration on limiting flux and serum protein removal with 4-mm-channel ceramic microfiltration membranes.
The objective of our study was to determine if the limiting flux and serum protein (SP) removal were different at 8, 9, or 10% true protein (TP) in the microfiltration (MF) retentate recirculation loop using 0.1-µm ceramic graded permeability membranes with 4-mm-channel diameters operated at 50 °C using a diluted milk protein concentrate with 85% protein on a total solids basis (MPC85) as the MF feed. The limiting flux for the MF of diluted MPC85 was determined at 3 TP concentrations in the recirculation loop (8, 9, and 10%). The experiment was replicated 3 times for a total of 9 runs. On the morning of each run, MPC85 was diluted with reverse osmosis water to an MF feed TP concentration of 5.4%. In all runs, the starting flux was 55 kg/m(2) per hour, the flux was increased in steps until the limiting flux was reached. The minimum flux increase was 10 kg/m(2) per hour. The limiting flux decreased as TP concentration in the recirculation loop increased. The limiting flux was 154 ± 0.3, 133 ± 0.7, and 117 ± 3.3 kg/m(2) per hour at recirculation loop TP concentrations of 8.2 ± 0.07, 9.2 ± 0.04, and 10.2 ± 0.09%, respectively. No effect of recirculation loop TP concentration on the SP removal factor was detected. However, the SP removal factor decreased from 0.80 ± 0.02 to 0.75 ± 0.02 as flux was increased from the starting flux of 55 kg/m(2) per hour to the limiting flux, with a similar decrease seen at all recirculation loop TP concentrations.