ISLAMABAD : In a significant move to support Pakistani exporters, Federal Minister for Commerce Jam Kamal Khan has directed the immediate withdrawal of the Minimum Export Price (MEP) on rice, a measure that had been set in place in 2023.
The Ministry of Commerce says that a formal notification regarding removal of MEP has been issued following the request of the Rice Exporters Association of Pakistan (REAP).
The MEP was initially introduced last year in response to rising global rice prices and a ban imposed by India on rice exports. However, with the recent decline in international rice prices and India lifting its export ban, the MEP has become an obstacle for Pakistani rice exporters to remain competitive in global markets.
Commerce Ministry has claimed that by removing the MEP, Pakistani rice exporters will now be able to better compete in international tenders, enhancing their ability to secure large contracts. The decision is expected to play a key role in boosting Pakistan’s rice exports, with industry experts projecting that it could help achieve export revenue of up to $5 billion in the current financial year.
According to Commerce Ministry, REAP has praised the decision, stating that Jam Kamal Khan’s intervention will prove instrumental in revitalizing the rice export sector and ensuring Pakistan’s strong presence in the global rice trade.
