ISLAMABAD: Pakistan’s Commerce Minister Jam Kamal said on Monday the South Asian country aimed to boost its rice exports from the existing $4 billion to as much as $7 billion to support its dwindling economy, Pakistan state media reported.
Kamal said this during a meeting with the Rice Exporters Association of Pakistan (REAP) representatives. Rice exports play a vital role in Pakistan’s economy, ranking second in export value after cotton.
Pakistan is trying to navigate a prolonged economic crisis by actively pursuing foreign investments and enhanced trade opportunities, while it has also reached a staff-level agreement with the International Monetary Fund (IMF) for a $7 billion loan.
The South Asian holds 25 percent of the European rice export market, compared to India’s 16 percent, and there is a need for collaboration between the government and exporters to maintain this competitive edge, according to the commerce minister.
“Rice exports play a vital role in Pakistan’s economy, ranking second in export value after cotton,” Kamal was quoted as saying by the state-run APP news agency. “Rice exporters are a primary source of revenue and employment, with the government aiming to increase exports from $4 billion to $6-7 billion in the near future.”
Pakistan exported rice worth $3.9 billion this year as compared to $2.15 billion last year. It has also withdrawn the minimum export price for all rice varieties to compete with Indian exporters in the global market.
India has been the largest exporter of rice worldwide, followed by Pakistan, Thailand and Vietnam. The South Asian arch-rivals are also the only countries that produce basmati rice which is famous for its unique flavour and aroma around the globe.
“We are focusing on improving our standards to meet international food safety requirements, especially in Europe,” Kamal said.
Increasing rice exports to Malaysia were also part of the discussions held during a recent visit by Malaysian Prime Minister Anwar Ibrahim, who will host a business delegation led by Kamal in November to explore new opportunities.
REAP Chairman Malik Faisal Jahangir said Pakistan’s rice exports faced fewer regulatory challenges with only 74 rapid alerts for pesticides issued last year compared to 264 for India, according to the APP report.
He said Pakistan remained one of the “lowest-risk countries” concerning food safety standards.
Stressing the need to educate farmers to improve quality of rice production, Kamal called for a joint effort by all stakeholders to develop a five-year strategy to enhance the country’s rice export capacity and international standards compliance.
He urged REAP to give proposals on how to meet the government’s export targets within the next year, keeping in mind the “stringent” food safety standards in the European Union.
Pakistan eyes up to $7 billion rice exports to support dwindling economy
https://arab.news/v4qnz
Pakistan eyes up to $7 billion rice exports to support dwindling economy
- While India has been the largest exporter of rice worldwide, Pakistan holds 25 percent of the European rice export market
- Commerce Minister Jam Kamal stresses need for collaboration between government, exporters to maintain this edge
Security forces kill nine Pakistani Taliban militants in restive northwest, military says
- The militants were killed in separate operations in Khyber Pakhtunkhwa's Dera Ismail Khan and Bannu districts
- Pakistan this week summoned Afghanistan’s deputy head of mission to demand action against the Pakistani Taliban
ISLAMABAD: Pakistan security forces have killed nine Pakistani Taliban militants in two separate engagements in the northwestern Khyber Pakhtunkhwa (KP) province, the military said on Sunday, amid a surge in militancy in the region bordering Afghanistan.
Four militants were killed in an intelligence-based operation in KP's Dera Ismail Khan, while five other Pakistani Taliban members were gunned in an exchange of fire with security forces in the Bannu district, according to the Inter-Services Public Relations (ISPR), the military's media wing.
Weapons and ammunition were also recovered from the deceased "Indian-sponsored" militants, who remained actively involved in numerous activities against security forces and law enforcement agencies and target killing of civilians. There was no immediate response from India to the statement.
"Sanitization operations are being conducted to eliminate any other Indian sponsored kharja [militant] found in the area," the ISPR said in a statement. "Pakistan will continue at full pace to wipe out menace of foreign sponsored and supported terrorism from the country."
KP has seen a surge in militancy in recent years, with the Pakistani Taliban, or the Tehreek-e-Taliban Pakistan (TTP), and other militant groups frequently targeting security forces convoys and check-posts, besides targeted killings and kidnappings of law enforcers and government officials.
Pakistan this week summoned Afghanistan’s deputy head of mission and demanded “decisive action” against the TTP after four Pakistani soldiers were killed in an attack on a military camp in KP’s North Waziristan district that also killed four assailants, according to the Pakistani foreign office.
Islamabad has long accused Kabul of allowing its soil and India of backing militant groups, including the TTP, for attacks against Pakistan. Kabul and New Delhi have consistently denied this.
The uptick in militant violence triggered fierce clashes between Pakistan and Afghanistan in Oct. The two countries agreed to a ceasefire in Doha on Oct. 19, but tensions remain high between the neighbors.
