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The federal government has decided in principle to give rice processing mills industry status to boost rice exports, a decision on which is expected soon.

According to Express News, the online high-level meeting chaired by the previous Prime Minister reviewed in detail the targets set under the Economic Outreach Measures (EOI) to be introduced by the National Security Division.

According to a document available to The Express, the meeting was convened on Friday by Federal National Food Security and Research Islamabad, Secretary Industry and Production, Secretary Commerce, Secretary Industries Punjab, Secretary Commerce Punjab, Secretary Commerce and Technical Education Khyber Pakhtunkhwa. Peshawar, Secretary Industries and Commerce Sindh, Secretary Industries and Commerce Department Balochistan, Chairman Federal Board of Revenue and Chairman Rice Export Association of Pakistan.
Sources said that the meeting agreed to complete all the formalities for giving industry status to rice processing mills. Sources said that several meetings have been held in this regard before and it is expected that The decision will come soon, as the sector is being given much importance under the Economic Outreach Initiatives (EOI) introduced by the Prime Minister’s National Security Division, while Prime Minister Imran Khan himself is taking an interest in the matter. Are

According to sources, the meeting also discussed the mechanism for sale of rice to increase sales in the international market by branding and registering Pakistani rice. According to sources, the meeting was informed that Investment in the sector will increase and innovation in value addition will increase which will increase rice exports. The target is to increase rice exports to ارب 5 billion over the next four years, while Pakistan has exported a total of more than ارب 2.1 billion worth of rice during the last financial year.

It was informed in the meeting that rice is considered as the second largest commodity of the country but the export of rice has declined during the current financial year and this year the export of rice has decreased as compared to the previous financial year. There are reasons for which the first reason is the lower price of Indian rice in the international market compared to Pakistan, the second major reason is the exorbitant increase in fares in the international market for the delivery of rice, while the third main reason is Code-19.

Sources said that rice exports are expected to be less than ارب 2 billion this year and Pakistan has also started exporting rice to Iraq ten years later, while the largest markets for Pakistani rice are China, Kenya and Iraq, Europe and the United States. Malaysia.

The main reason for the decline in rice exports this year is the sharp rise in international freight. The US increased the freight rate for Pakistani rice exports by پانچ 5,000, while the freight rate for rice exports to Europe increased by سا 3,500. Freight exports to China have increased seven to eight times.