KARACHI – The Union of Small and Medium Enterprises (UNISAME) invited the attention of the State Bank of Pakistan (SBP) to the difficulties faced by the rice exporters in the overdue adjustment of export refinance obtained on the basis of past performance.
UNISAME President Zulfikar Thaver said the Small and Medium Enterprises (SME) rice exporters have not been able to export rice to global destinations due to decline in exports and unfavourable markets of the commodities all over the world.
He said that despite best efforts of the SME rice exporters they have not been able to meet their targets. The rice exporters, due to shortfall, have become liable to penalties due to no fault of their, but only because of slowdown in international commercial activities in commodities market.
Thaver urged SBP to waive the penalty and allow an extension of six months to the rice exporters to settle their loans. He, however, stated that rice exports has become uncompetitive due to high cost of production and for this a long drawn out policy is required and the Ministries Of Finance, Agriculture And Commerce need to sit together to chalk out a comprehensive plan to facilitate the farmers, millers and processors to ensure best prices to exporters to compete in global markets.
