Agri Sector Reforms to be Focus of FPCCI Polls, Says BMP VP
Published on: December 29, 2023.
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KARACHI: Reforming Pakistan’s Agricultural Sector a Top Priority, Says Rice Exporter
Rafique Suleman, a prominent rice exporter and former Chairman of the Rice Exporters Association of Pakistan (REAP), has announced his candidacy for the position of Vice President in the Federation of Pakistan Chamber of Commerce and Industry (FPCCI) election for the 2024-25 term. Suleman, running as part of the Businessman Panel (BMP), has expressed his dedication to prioritizing reforms in Pakistan’s agricultural sector if elected.
In a statement to the media, Suleman emphasized that despite Pakistan being an agricultural country, it still needs to import wheat for domestic consumption due to lower per acre yield compared to other developing nations. He lamented the neglect of the agricultural sector and the lack of investment in research and development, leading to a decline in performance.
Rice is among the most highly exported commodities in Pakistan, with the country earning $2.5 billion in foreign exchange through rice exports during the last fiscal year (FY23). REAP is determined to further increase rice exports and projects that annual rice exports will surpass $3 billion for the first time by the end of this fiscal year (FY24).
To achieve this goal, Suleman highlighted the need to increase per acre yield to ensure a sufficient supply of agricultural commodities for export and generate more foreign exchange through exports. If elected as Vice President of FPCCI, he intends to prioritize agricultural reforms and urge the government to take action on reducing production costs and encouraging farmers to increase production for the nation.
Suleman also emphasized the global demand for Pakistani rice, which is increasing due to the ban on Indian rice. Pakistani rice is now sold at higher prices than Indian rice in the international market. The country is experiencing a successful rice crop production this year, which will contribute to achieving the $3 billion rice export target.
In conclusion, Suleman appealed to the business community to support BMP candidates in the upcoming FPCCI election scheduled for Saturday, 30th of September, 2023.
