The commerce ministry has decided to expand the definition of Basmati rice to Long Grain Pakistani Basmati Rice in terms of Pakistan-Sri Lanka Free Trade Agreement.
In a public notice, the commerce ministry said it was stipulated earlier that the variety of Basmati rice eligible for duty concession on export to Sri Lanka in terms of Pak-Sri Lanka FTA between the two countries would be "PK-385" and "Super Basmati" varieties only.
The certificate of origin will henceforth cover all varieties of Basmati rice falling under the description of "Long Grain Basmati Rice." After implementing of new definition many other varieties of long grain basmati rice especially PK-198 (D-98) variety would be able to export.
It is worth mentioning here that Sri Lank purchased PK-198 (D-98) variety of rice from Pakistan, but due to ban on this variety it could not be exported under the FTA. Former Rice Exporters Association of Pakistan (Reap) vice chairman told Business Recorder here on Thursday that Sri Lanka is a huge market for PK-198 variety of rice.
"We developed the Sri Lankan market for this variety of rice with its value addition from $350 to $450 per tonne", he said, adding that after this decision of the commerce ministry the growers and exporters of Sindh would be benefited. He appreciated the commerce ministry and Commerce Minister Humayun Akhtar Khan who took this decision and solve this issue.
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