Minimum basic price for rice export abolished
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The federal government has abolished the minimum basic price of rice, reported 24NewsHD TV channel on Saturday.
The Ministry of Commerce and Trade has issued a notification to remove the minimum base price of rice.
On the direction of Federal Minister for Commerce Jam Kamal Khan, the minimum export price for rice exports has been abolished immediately.
According to Ministry of Commerce, Pakistani rice exporters will be able to compete better in the global market after ending of minimum basic price of rice.
With the measure being taken in this regard, Pakistan can earn up to $5 billion in revenue from rice exports, Ministry of Commerce said.
The Ministry of Commerce issued the notification to remove the minimum export price on the request of the Rice Exporters Association.
Reporter: Waqas Azeem