Karachi: Mr. Tariq Bajwa, Governor State Bank has informed that they are also working on this matter and we are hopeful that in next two weeks, banking channel matters from Pakistan side will be resolved which will is good news for Pakistani rice exporters.
A high profile delegation of Rice Exporters Association of Pakistan (REAP) led by Ch. Samee Ullah Naeem, Chairman REAP had a meeting with Mr. Tariq Bajwa, Governor State Bank of Pakistan today at his office. During the meeting Rafique Suleman, Senior Vice Chairman REAP, Members of Managing Committee, Safder Mehkri, Hasan Aziz as well as Pir Syed Nazim Hussain Shah and Mian Iqbal Aziz were also present.
Ch. Samee thanked Governor State Bank for giving time for this meeting on very short notice. He informed that after the crisis of many years, this year rice exports figures are encouraging and we are very hopeful that during this fiscal year, we will achieve our target of US$.2 Billion. He also informed him that a 14 Members REAP’s trade delegation is going to visit Iran on 8th April 2018 under his leadership. Iran is very lucrative and potential market for Basmati market. During years 2010, more than 700,000 to 800,000 Metric tons of Pakistani rice used to export to Iran, however, currently only 100,000 Metric tons is being exported to Iran. One of the main reasons is the non-availability of banking channel between both the countries. He requested Governor State Bank to play his important role to facilitate rice exporters.
Rafique Suleman informed that we are facing challenges to get good quality rice, as mostly farmers are using very out dated and old rice machineries. He suggested giving Interest Free loan to Farmers on Long Term basis for the purchase of Silos for rice storage and Dryer to obtain better quality rice. However, Governor SBP said that they can provide Long Terms loans to farmers on 6% Mark up. Rafique proposed that there are more than 3500 rice mills in Pakistan, however, for trial basis, on the recommendation of REAP, State Bank may provide Long terms loans to (25) farmers on the mark up of 4% and payment of remaining 2% will be arranged by the Association. We hope that after the success of this pilot project, other farmers will also attract to get this loan to upgrade them.
