Recorder Report

KARACHI: Finance Minister Senator Muhammad Aurangzeb has assured to resolve all issues related to rice exports to bring more foreign exchange in the country.

Former Chairman of the Rice Exporters Association of Pakistan (REAP) and Convener of the FPCCI Standing Committee on Rice, Rafiq Suleman, met with Federal Finance Minister Senator Muhammad Aurangzeb on Wednesday at the Federation House.

During the meeting, Rafiq Suleman informed the minister that Pakistan’s rice exports have increased this year compared to the previous year, but if the government reduces the tax burden on exporters, it could result in a significant boost in exports and generate substantial foreign exchange for the country.

He also urged the Finance Minister to include the rice sector among the special beneficiaries of government incentives, pointing out that while five other export-oriented sectors have been receiving special facilities for years, the rice sector, being a leading contributor to national exports, also deserves such recognition and support.

He further discussed the potential of mechanical farming, suggesting that if Prime Minister Shehbaz Sharif instructs provincial governments to ensure that farmers adopt mechanical farming methods, it could increase crop yields by 50 to 60 percent. Higher yields would lead to increased rice exports and greater prosperity among farmers, he added.

Suleman recommended that taxes on the import of machinery used in the rice sector, such as silos and dryers, should be eliminated. He explained that installing more silos with temperature control capabilities would allow proper storage of wheat, maize, rice, and other commodities, preventing spoilage and thus contributing to national economic stability and prosperity. He emphasized that if taxes on rice-related machinery imports are removed, Pakistan could produce high-quality rice that could dominate global markets.

On the occasion, Suleman also reminded the Finance Minister of his promise to REAP Vice Chairman Javed Jelani to visit the REAP House, to which Senator Muhammad Aurangzeb responded that he would soon meet with rice exporters.

Finance Minister said that rice is an important commodity and earning billions of dollars for the country. Government will consider the suggestion and issues will be resolved on priority basis.

Copyright Business Recorder, 2025

Published Date: May 2, 2025