AVN 65.52 Decreased By ▼ -1.18 (-1.77%)
BAFL 29.72 Increased By ▲ 0.22 (0.75%)
BOP 4.05 Decreased By ▼ -0.03 (-0.74%)
CNERGY 3.57 Decreased By ▼ -0.05 (-1.38%)
DFML 11.56 Decreased By ▼ -0.24 (-2.03%)
DGKC 42.03 Decreased By ▼ -1.17 (-2.71%)
EPCL 45.66 Decreased By ▼ -0.33 (-0.72%)
FCCL 11.60 Decreased By ▼ -0.25 (-2.11%)
FFL 5.78 Decreased By ▼ -0.10 (-1.7%)
FLYNG 5.94 Decreased By ▼ -0.13 (-2.14%)
GGL 10.88 Decreased By ▼ -0.37 (-3.29%)
HUBC 67.40 Decreased By ▼ -0.48 (-0.71%)
HUMNL 5.59 Decreased By ▼ -0.05 (-0.89%)
KAPCO 24.38 Decreased By ▼ -0.47 (-1.89%)
KEL 2.11 Decreased By ▼ -0.02 (-0.94%)
LOTCHEM 24.92 Decreased By ▼ -0.08 (-0.32%)
MLCF 24.58 Decreased By ▼ -0.29 (-1.17%)
NETSOL 74.12 Decreased By ▼ -2.08 (-2.73%)
OGDC 84.67 Decreased By ▼ -1.19 (-1.39%)
PAEL 10.61 Decreased By ▼ -0.44 (-3.98%)
PIBTL 3.91 Decreased By ▼ -0.07 (-1.76%)
PPL 64.81 Decreased By ▼ -1.19 (-1.8%)
PRL 12.74 Decreased By ▼ -0.21 (-1.62%)
SILK 0.87 Decreased By ▼ -0.01 (-1.14%)
SNGP 39.41 Decreased By ▼ -1.34 (-3.29%)
TELE 7.06 Decreased By ▼ -0.42 (-5.61%)
TPLP 14.70 Decreased By ▼ -0.39 (-2.58%)
TRG 107.60 Decreased By ▼ -2.85 (-2.58%)
UNITY 13.37 Decreased By ▼ -0.14 (-1.04%)
WTL 1.20 Decreased By ▼ -0.01 (-0.83%)
BR100 4,040 Decreased By -40.6 (-0.99%)
BR30 14,413 Decreased By -217.8 (-1.49%)
KSE100 39,942 Decreased By -434.1 (-1.08%)
KSE30 14,739 Decreased By -177.2 (-1.19%)
Follow us

KARACHI: Rice Exporters Association of Pakistan (REAP) has proposed financial support for rice mechanise farming to achieve the higher crop output and achieve $5 billion export target.

The proposal was presented by the Chairman REAP Abdul Qayum Paracha in a meeting of National Export Development Board (NEDB). The meeting was chaired by Prime Minister Imran Khan and attended by Federal Minister for Commerce Abdul Razak Dawood, Federal Minister for Finance Shaukat Tarin, Governor State Bank of Pakistan (SBP) Dr Reza Baqir, PM advisor for port and shipping Mehmood Moulvi, and others.

During the meeting Prime Minister endorsed the REAP proposals and assured full support for increase in crop output and rice exports.

Chairman REAP has thanked Prime Minister Imran Khan and the NEDB for endorsing the REAP demands. He informed that during the meeting a number of proposals were discussed with the NEDB and proposal of federal government funded farm mechanisation programme exclusively for rice crop was top of it.

He said that Pakistan can increase its rice production with the mechanise farming, however it cost is about Rs10,000 per acre and farmers cannot afford this, therefore, REAP has requested federal government to provide some 50 percent subsidy for mechanise farming, which can increase rice crop 10-15 percent in a year and double in few years.

In addition, during the meeting issue of higher sea freight was also discussed and PNSC was requested to provide exclusive break bulk shipping services for export of rice.

Chairman REAP thanked federal government in acceding to the demands of the structured Farm Mechanisation Programme, which will serve as the foundations for the REAP proposed Visibility and Standardisation in our Rice Value Chain, helping attract major investments in the rice sector for realizing $5 billion per annum exports.

He mentioned that this programme will also help to achieve global best averages on each and every step in rice value chain including farm inputs, seed purity, water utilisation optimising on yields, farmer access to formal credit, required harvesting drying storages and modern husking and processing mills.

This REAP mechanisation programme will help to bring visibility and standardisation to Pakistani Rice Value Chain. "It will attract Multinational Agricultural Firms plan and execute long term investments in Pakistan where the potential runs into billions of dollars and will bring confidence in REAP members to invest in the backward integration on long term basis," he added.

Paracha said that the approval of REAP suggestions will open a new era in rice sector for future generation of the country.

He also thanked Ministry of Commerce for organising Awareness Seminar for farmers on MRL level of pesticides residue and extending their support for mapping of crop and zoning of rice growing areas with the help of provincial agricultural departments.

"We see rice exports in next 5 years at a global level competing with the best in the world and revival of our Basmati Heritage will now be a realistic dream," he added.

Copyright Business Recorder, 2021


Comments are closed.

REAP proposes financial support for mechanised rice farming

KP Governor urges ECP to hold provincial elections on October 8

SBP-held forex reserves increase $280mn, now stand at $4.6bn

Nabi stars as Afghanistan stun Pakistan in T20 series opener

Imran Khan says he will not take refuge in AJK, GB to save his life

KSE-100 ends below 40,000 level amid IMF uncertainty

IMF seeks financial assurances before taking 'next step with Pakistan'

Pakistani professionals struggle with higher costs as economy teeters

LHC extends Imran Khan's protective bail in 5 cases till March 27

Remarks on woman judge: Islamabad court changes Imran’s non-bailable arrest warrant into bailable one

Pakistan’s logistics startup Trax says it has raised $3.7mn in seed funding