The Union of Small and Medium Enterprises (UNISAME) invited the attention of the State Bank of Pakistan (SBP) to the difficulties faced by the rice exporters in the overdue adjustment of export refinance obtained on the basis of past performance.
UNISAME President Zulfikar Thaver said the SME rice exporters have not been able to export rice to global destinations due to the decline in exports and unfavourable markets of commodities all over the world.
He said despite best efforts of the SME rice exporters, they have not been able to meet their targets and adjust amounts borrowed against export refinance on the basis of previous year’s performance.
The rice exporters due to shortfall have become liable to penalties due to no fault of their own, but only because of a slowdown in international commercial activities in the commodities market.
Thaver urged SBP to waive the penalty and allow the rice exporters an extension of six months to settle their loans.
He, however, stated that rice exports have become uncompetitive “due to our high cost of production and for this a long drawn out policy is required, and the ministries of finance, agriculture and commerce need to sit together to chalk out a comprehensive plan to facilitate the farmers, millers and processors to enable them to offer best export prices to exporters.”
The high cost of finance and farm inputs, poor logistics and infrastructure are some of the reasons for their non-competitiveness, he added.
Basically, he said, the government needs to declare rice sector as an industry and offer it the priority it deserves and frame rice policy to facilitate it.
Rice was the second largest export sector after textiles and if given the facilities of finance, insurance and marketing and logistics support, it will prove its worth, he emphasised.
It is also very important that research is enhanced for new seeds for better yields to make the grains competitive and modern methods of cultivation, irrigation and paddy-drying are adopted, he said.
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Bhandari Foods was set up to provide a wide range of quality products to its already existing range of distinct quality Pakistani Basmati and Non-Basmati rice. Over the years we have been adapting, growing and expanding to a variety of nutritional and quality products to cater to the continuously changing dynamics of the food industry.
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