Rice Exporters Association of Pakistan (REAP) has welcomed the decision of State Bank of Pakistan (SBP) to allow 100 percent financing facility to rice exporters for 270 days. In a statement issued here on Monday, vice chairman REAP Rafiq Suleman said that this facility would play a positive role in the growth of rice exports.
He also appreciated finance minister, food minister and SBP Governor and said this would restore the confidence of rice exporters and they would re-double the efforts to get new export orders.
Suleman said that procurement of paddy had started from growers and there were hopes that rice export would be enhanced this year. He pointed out that rice exporters had shipped 103,000 metric tons of IRRI-6 rice worth $37 million to African countries, Far East, Saudi Arabia, Dubai and other countries during November 16 to 21, 2009.
Similarly, export of non-basmati rice fetched $355.9 million while basmati rice worth 306.4 million were exported during four months. Suleman said that the surge in rice export was a good omen and raised hopes that country might get $2.2 billion export target this year. He underlined the need for more incentives for rice exporters to boost country's export.
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