Pakistan: Finance minister promises to address rice export issues to boost foreign exchange

Source:  Profit by Pakistan Today
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Finance Minister Senator Muhammad Aurangzeb assured that the government would address all issues related to rice exports to help generate more foreign exchange for Pakistan.

The assurance came during a meeting on Wednesday at the Federation House with Rafiq Suleman, former Chairman of the Rice Exporters Association of Pakistan (REAP) and Convener of the FPCCI Standing Committee on Rice.

Suleman informed the minister that while rice exports had seen an increase this year, further tax relief for exporters could significantly boost exports and help the country earn more foreign exchange.

He urged the Finance Minister to include the rice sector among the special beneficiaries of government incentives, similar to other export-oriented sectors that have received special facilities for years.

Suleman also highlighted the potential of mechanical farming, suggesting that with Prime Minister Shehbaz Sharif’s intervention, provincial governments could encourage farmers to adopt modern farming methods. He argued that such measures could increase crop yields by 50 to 60 percent, leading to higher rice exports and improved prosperity for farmers.

Further, Suleman recommended the removal of taxes on machinery imports for the rice sector, such as silos and dryers. He explained that installing temperature-controlled silos would improve the storage of essential commodities like wheat, maize, and rice, reducing spoilage and contributing to national economic stability.

The Finance Minister acknowledged the importance of rice as a significant contributor to Pakistan’s foreign exchange earnings and assured that the government would prioritize resolving the issues raised by the rice industry. He also confirmed plans to visit the REAP House soon, following a promise made to REAP Vice Chairman Javed Jelani.

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