
PBIF For Setting Up Rice Export Company To Boost Trade
Fahad Shabbir (@FahadShabbir) Published August 15, 2016 | 06:42 PM

ISLAMABAD, (UrduPoint / Pakistan Point News - 15th August, 2016) : Pakistan Businessmen and Intellectuals Forum (PBIF) Monday stressed the need for establishing Rice Export Company to boost rice exports from the country. President, PBIF and Senior Vice Chairman of the Businessmen Panel of Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Mian Zahid Hussain demanded the formation of company, keeping in view the declining rice exports from the country.
In a statement issued here, he said the rice exports have witnessed a fall of 8.60 percent during financial year of 2016 by fetching $2.035 billion. He was of the view that government should intervene immediately by forming a separate Rice Export Company from private sector to handle all rice related issue. He noted that the highest shipments recorded took place in 2009-10 when earnings from rice exports stood at $2.2 billion.
Since then, the exports have remained almost stagnant and now it is going down.
"Government must come forward to save the second highest foreign exchange earning sector and provide incentives to growers many of who are switching to other crops while enable exporters to regain their competitiveness in the international market," he demanded.
He said that all the major stakeholders including rice growers, traders, millers and exporters have suffered because of the low demand of Pakistani rice in the international market. Rice farmers deserve all the facilities which competing nations are offering to their farmers including affordable seeds, pesticides, electricity, water and dryers while they should be given direct subsidy as indirect subsidies are less effective. Our competitors were able to raise their exports by benefitting from market-oriented or demand-driven research, said Mian Zahid Hussain.
Related Topics
Recent Stories

I2U2 Group consisting of UAE, India, Israel, and US announces launch of website

Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 22 September 202 ..

Today Gold Rate in Pakistan 22 September 2023

Fujairah Crown Prince receives Minister of Culture and Youth

Ahmed bin Mohammed approves DMI’s new strategy and corporate identity

Liwa Date Festival & Auction launched under patronage of Hamdan bin Zayed

UAE stocks generate strong cash flows Thursday as DFM hits 8-month high

NYUAD researchers develop self-cleaning membranes boosting desalination efficien ..

Museum of the Future to host ministers, officials, COP28 Committee during Climat ..

ENEC discusses future collaboration with US businesses at US-UAE Business Counci ..

L’Oréal-UNESCO For Women in Science ME Young Talents Programme honours 11 Ara ..

Livestock health & sustainability strategic priority: Abu Dhabi Agriculture ..
More Stories From Pakistan
-
Caretaker PM calls for fulfilling climate finance commitments
16 hours ago -
General elections to be conducted in last week of January next year: ECP
16 hours ago -
Murtaza Solangi emphasizes need to eliminate prejudices
18 hours ago -
Pakistan’s future in terms of investment climate is very bright: FM
18 hours ago -
Shehbaz, Maryam take separate flights to reach London today
22 hours ago -
PM urges UN to mobilize private investment in developing countries to achieve SDGs
22 hours ago
-
IMF asks Pakistan to tax rich, safeguard underprivileged
23 hours ago -
Justice Mansoor will be on study tour in US till Oct 1
1 day ago -
Governor Punjab Muhammad Balighur Rehman urges youth to focus on positives in society
1 day ago -
PM Kakar underscores need for shared scientific research, discovery to save human lives
1 day ago -
Jamal Shah calls for collection, preservation of children's folk literature in regional languages
1 day ago -
Sindh Caretaker Home Minister along with IG Police visits Katcha area of Kashmore-Kandhkot
1 day ago