May 30, 2016
President Pakistan Businessmen and Intellectuals Forum (PBIF), President AKIA, Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister Mian Zahid Hussain on Monday expressed concern over falling rice exports.
Government’s attention can strengthen to boost exports from the current over two billion dollars to USD four billion within three years, he said.
Mian Zahid Hussain said that government should immediately establish Rice Development Company to cater for the basmati and non-basmati sectors, rice mills should be given status of industry with zero rating, load shedding be reduced and tax relaxations should be announced in the upcoming budget.
He said that repayment of export refinance should be increased from 180 days to 360 days and fine on late repayment should be waived.
Withholdings tax on rice exports should be reduced from one percent to 0.25 percent while 3.5 percent tax on local purchase should be abolished, he said.
He said that duty should be waived on import of dryers and other equipment while import should be allowed through Wagah border so that local exporters should re export the commodity.
Main Zahid Hussain called upon the government to take note of falling exports to China, Iran and Kenya while Utility Stores Corporation should be asked to buy rice for the holy month of Ramadan.
He said that a little attention can transform Pakistan into a regional hub for rice trading catering for the needs of China, Afghanistan, Middle East and Central Asian markets.