According to the sources, it has been reported recently that the President of the Pakistan Businessmen and Intellectuals Forum (PBIF), President AKIA, Senior Vice Chairman of the Businessmen Panel of FPCCI and former Provincial Minister Mr Mian Zahid Hussain have expressed their deep concern over falling rice exports. However, in this matter, it has also been stated that Government’s attention can strengthen to boost exports from the current over two billion dollars to USD four billion within three years. Further, in this aspect Mr Mian Zahid Hussain also narrated that the government should immediately establish Rice Development Company to cater for the basmati and non-basmati sectors. In addition, rice mills should be given status of industry with zero rating as to reduce load shedding and tax relaxations should be announced in the upcoming budget.
Furthermore, it has also been expressed to check falling in rice export that repayment of export refinance should be increased from 180 days to 360 days and fine on late repayment should be waived off completely. Moreover, withholdings tax on rice exports should be reduced from one percent to 0.25 percent while 3.5 percent tax on local purchase should also be abolished. It has also been added that duty should be waived on import of dryers and other equipments while import should be allowed through Wagah border so that local exporters should be able to re-export the commodity accordingly.