The Pakistani federal government on Wednesday abolished the Minimum Export Price (MEP) on all varieties of rice by issuing a notification aimed at deleting the minimum export price that was imposed earlier by the government.
Chairman Rice Exporters Association of Pakistan (REAP) Muhammad Azhar Akhtar has welcomed the move of the government and said the abolishment of Minimum Export Price will help to export the remaining stocks of the commodity as prices of rice in domestic as well international market have been decreased.
Whilst the small rice exporters heaved a sigh of relief at the removal of the condition of minimum export price (MEP) they expressed regret that the ministry of commerce took much longer than required to do away with a condition which caused tremendous loss of business for the small and medium sized exporters.
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