Islamabad, Sep 29: Government Withdraws Minimum Export Price on Rice
Federal Minister for Commerce Jam Kamal Khan has ordered the immediate repeal of the Minimum Export Price (MEP) on rice, a policy established in 2023.
The Ministry of Commerce, under his direction, issued the notification following a request from the Rice Exporters Association of Pakistan (REAP).
The MEP was initially implemented to address rising global rice prices and India’s export ban on rice.
However, with international rice prices recently declining and India lifting its export ban, the MEP has hindered Pakistani rice exporters’ competitiveness in the global market.
By eliminating the MEP, exporters will have a better chance to compete in international tenders, which is expected to enhance their capacity to secure significant contracts.
Industry experts predict that this decision could significantly boost Pakistan’s rice exports, potentially achieving revenue of up to $5 billion in the current financial year.
REAP has commended this decision, stating that Jam Kamal Khan’s intervention will be crucial in revitalizing the rice export sector and ensuring Pakistan maintains a strong presence in the global rice trade.
