Federal Minister for Commerce, Jam Kamal Khan has intervenes to boost Rice exports by lifting for minimum export price.
In a significant move to support Pakistani exporters, Federal Minister for Commerce Jam Kamal Khan has directed the immediate withdrawal of the Minimum Export Price (MEP) on rice, a measure that had been set in place in 2023, said a press release issued here on Saturday.
The Ministry of Commerce, under Jam Kamal’s leadership, issued the notification following the request of the Rice Exporters Association of Pakistan (REAP).
The MEP was initially introduced last year in response to rising global rice prices and a ban imposed by India on rice exports.
However, with the recent decline in international rice prices and India lifting its export ban, the MEP has become an obstacle for Pakistani rice exporters to remain competitive in global markets.
By removing the MEP, Pakistani rice exporters will now be able to better compete in international tenders, enhancing their ability to secure large contracts.
The decision is expected to play a key role in boosting Pakistan’s rice exports, with industry experts projecting that it could help achieve export revenue of up to $5 billion in the current financial year.
REAP has praised the decision, stating that Jam Kamal Khan’s intervention will prove instrumental in revitalizing the rice export sector and ensuring Pakistan’s strong presence in the global rice trade.
