Key Points
- The Pakistani government has extended the duty remission incentive period for rice exporters by 3 months.
- The duty remission rate was set at 5 percent for non-basmati rice and 9 percent for basmati rice.
- The decision was taken in line with the demands of the Rice Exporters Association of Pakistan during the Export Development Fund meeting.
By the Numbers
The Pakistani government has extended the duty and tax remission (DTL) incentive period provided to rice exporters by another three months. According to the notification issued by the Ministry of Commerce, the duty remission rate for non-basmati rice exports will continue to be applied at 5 percent. For basmati rice, this rate remained fixed at 9 percent.
This decision is a continuation of the previous steps taken on July 1 to encourage exports. In July, while the government maintained the 9 percent DTL rate for basmati rice, it increased the incentive for non-basmati rice from 3 percent to 5 percent. These regulations were shaped in line with the demands of the Rice Exporters Association of Pakistan (REAP) during the Export Development Fund (EDF) meeting.
Association presidents and industry representatives stated that the government responded positively to their concerns and that the competitiveness of Pakistani rice in the global market will increase. Industry representatives had called for the incentive for non-basmati rice to be increased to 9 percent, but with the current regulation, it was decided to maintain the 5 percent rate.
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Frequently Asked Questions
- What new decision did the Pakistani government make for rice exporters?
- The government extended the duration of the tax and duty remission incentives (DTL) granted to rice exporters by another 3 months.
- What are the duty remission rates for basmati and non-basmati rice?
- While the duty remission rate for basmati rice is 9 percent, this rate is applied as 5 percent for non-basmati rice.
- How will this decision affect rice exports?
- According to industry representatives, maintaining these incentives will increase the competitiveness of Pakistani rice in the international market.
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