Rice traders disappointed over budget

KARACHI: Rice traders on Saturday expressed disappointment over the budget 2016/17 for not proposing measures to increase exports.

Chief Patron Rice Exporters Association of Pakistan (REAP) Abdul Rahim Janoo, in a statement, said the exporters urged the government to declare rice sector as separate industry and place it under zero-rate regime. “However, the government didn’t include our recommendations into the finance bill,” Janoo said.   He also said rice export is the second largest earner of more than $2.2 billion foreign exchange per annum. But, the government has completely neglected this sector in the budget.

“REAP has sent several recommendations for the betterment of rice export trade, which were not considered by the government; even one very important suggestion of one window operation for the collection of all taxes is ignored,” he added.  The statement said the sales tax refund claims of rice exporters have been pending since long.

“We also request the government to pay back exporter refunds at the earliest,” Janoo said. “We request the Prime Minister and Finance Minister to take urgent steps for the survival of this very import sector and include this sector into zero rate regime, so that our dream of achieving $4 billion up to the end of 2018 may come true,” said the statement.