Agri sector reforms to be top priority as BMP VP wins FPCCI polls
Published on: December 29, 2023.
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Rafique Suleman Prioritizes Agricultural Reforms for Pakistan’s Rice Export Sector
KARACHI – In the upcoming Federation of Pakistan Chamber of Commerce and Industry (FPCCI) election, former Chairman Rice Exporters Association of Pakistan (REAP), Rafique Suleman, has announced his candidacy for the position of Vice President. Suleman, a prominent rice exporter, aims to prioritize reforms in Pakistan’s agricultural sector if elected.
As an agricultural country, Pakistan faces the challenge of importing wheat for domestic consumption due to its lower per acre yield compared to other developing nations. Suleman emphasizes the need for investment in Research and Development (R&D) to improve the performance of Pakistan’s agricultural sector, which has been neglected so far.
Pakistan’s rice export industry is a significant contributor to the country’s foreign exchange earnings. In the last fiscal year (FY23), Pakistani exporters earned $2.5 billion through rice exports. Through the efforts of REAP, it is expected that the annual rice export will reach $3 billion by the end of this fiscal year (FY24).
Suleman stresses the importance of increasing per acre yield to ensure an adequate supply of commodities for export and to generate more foreign exchange. If elected as Vice President FPCCI, he plans to advocate for agricultural reforms that reduce production costs and motivate farmers to increase production for the country.
Pakistan’s rice is highly regarded worldwide, and new markets are emerging locally. With the ban on Indian rice, Pakistani rice has experienced a surge in demand in the global market, often commanding a higher price than Indian rice. This year, Pakistan’s excellent rice crop production will contribute to achieving the $3 billion rice export target.
Suleman appeals to the business community to support BMP candidates in the upcoming FPCCI election, scheduled for Saturday, 30th, 2023. By electing candidates focused on agricultural reform, Pakistan can strengthen its position as a leading exporter of rice.
