Pakistan would soon be exporting different varieties of rice to Iran to help increase trade between the two countries. Pakistan's Agriculture Storage and Supplies Corporation (PASSCO) is finalizing its plan to initially export irri-9 and Basmati to Iran as per arrangements with Iran's Government Trading Company (GTC) at preferential duty.
Though with the abolishing of rice Export Corporation of Pakistan (RECP) few years ago, the private sector had already crossed one billion dollar rice export mark last year but the government still wants to encourage yet another government department to enter into the business.
Technically, PASSCO's role would be limited to purchase of rice, if the private sector is not able to procure and purchase at the support price. Now, rice is being sold domestically at much higher than the support price.
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