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Rice exports fetch $220m
KARACHI, Jan 25: Minister of state and chairman Export
Promotion Bureau, Tariq Ikram has said despite the fact that
rice exports are lagging behind the target by 12 per cent, the
country has so for earned $220 million.
Speaking at a dinner hosted for the chairman, Rice Exporters
Association of Pakistan (REAP), by Dynamic Shipping Agencies
on Thursday, the EPB chief said there was an urgent need of
maximizing per tonnage value of rice for earning higher
foreign exchange.
In order to get better price for rice in the world market,
Tariq Ikram said, it was necessary that branded rice be
exported with a state-of-the-art packing and good quality.
Agreeing with the REAP chairman's contention that rice export
business is presently under tremendous pressure owing to host
of factors, including war risk premium and depressed prices of
the produce in the world market, he said a roadmap in the
shape of 'Rice Vision' be prepared on line with 'Textile
Vision 2005' which will help exporters focus on right
direction.
The EPB chief drew the attention of the participants towards
opportunities arising out of reconstruction of Afghanistan and
quoted an English proverb, "Millionaires are borne out of
reconstruction of nations."
During first year, he said, the world donors had pledged $1.5
billion in Afghanistan's reconstruction and in total around
$10 to $20 billion would be needed.
Consequently, he said as per need analysis if $50 to $60 was
spent per head this means that massive opportunity was
awaiting for those who wanted to become 'millionaires.'
Tariq Ikram said, "our exports to Afghanistan are at around
$140 per annum but still we are better placed than other
nations to grab Afghanistan's reconstruction opportunity
because of already developed trade relations.
REAP chairman Abdul Rahim Janoo speaking on the occasion said
the government should immediately withdraw withholding tax on
rice exports.
He said present crisis in rice exports could be resolved if
the government took some steps to assist exporters meet the
challenges arising in the world market.
Janoo said rice prices in the world market were presently
depressed and exporters could not compete with cheap rice from
India and Thailand and apprehended that the situation would
further deteriorate when Vietnam enters the market in next two
months.
He urged upon the government to reduce export refinance
mark-up rate to 6 per cent up to July 31, 2002, and also
stabilize or freeze exchange rate at least for export of rice
for next three months.
Janoo informed the participants that REAP is working on the
formation of 'Rice Board' which will work in line of Tea Board
of Kenya.
Courtesy Dawn January 26, 2002
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