Middle East riots spread fears among rice exporters | Pakistan Today

Middle East riots spread fears among rice exporters

LAHORE – Keeping in view of the current political instability in troubled areas of Middle East, the federal government should formulate a policy to provide safeguard to Pakistani exporters, said Rice Exporters Association of Pakistan (REAP) Acting Chairman Taufiq Ahmed Khan.
He said the government should make sure that all buyers honoured their business commitment with Pakistani exporters as financial insecurity was increasing in exports, especially in Middle East countries owing to current wave of riots.
Khan stressed that Trade Development Authority of Pakistan (TDAP) and Ministry of Commerce should take concrete steps to ensure exporters’ payment as the situation was getting worse in Middle East and major rice buyers were based in these countries.
He pointed out that many exporters with firm contracts were not in a position to ship their consignments fearing huge losses owing the unrest in these countries. Most SMEs apprehend that their bill drawn on buyers in these countries would not be honored on due dates.

Related posts