KARACHI: A local economic watchdog has showed concern over declining rice exports and sought the government’s attention to boost exports from the current over $2 billion to $4 billion within three years.
Pakistan Businessmen and Intellectuals Forum (PBIF) President Mian Zahid Hussain, in a statement, the government should immediately establish Rice Development Company to cater for the basmati and non-basmati sectors, rice mills should be given status of industry with zero rating, loadshedding be reduced and tax relaxations should be announced in the upcoming budget.
Mian Zahid said that repayment of export refinance should be increased from 180 days to 360 days and fine on late repayment should be waived. Withholdings tax on rice exports should be reduced from one percent to 0.25 percent while 3.5 percent tax on local purchase should be abolished, he said. He said that duty should be waived on import of dryers and other equipment while import should be allowed through Wagah border so that local exporters should re-export the commodity.
The PBIF president urged the government to take note of falling exports to China, Iran and Kenya while Utility Stores Corporation should be asked to buy rice for the holy month of Ramadan. He said that a little attention can transform Pakistan into a regional hub for rice trading catering for the needs of China, Afghanistan, Middle East and Central Asian markets.
