Pakistan earns $4 bln in rice exports in 2024

Efforts of the Special Investment Facilitation Council (SIFC) are yielding results as Pakistan has historically achieved $4 billion from the exports of rice.

As per details, Pakistan has achieved a historic milestone in rice exports, generating $4 billion in revenue through the facilitation of the SIFC (Special Investment Facilitation Council).

According to SIFC official Shahjehan Malik, the target for rice exports in the upcoming fiscal year has been set at $5 billion.

Malik stated that a comprehensive strategy will be developed, focusing on the research of modern seeds and the promotion of standardized agricultural practices.

He emphasized that Pakistan’s Basmati rice plays a crucial role in global partnerships due to its high quality in the international market. During the fiscal year 2024, Pakistan exported over 6 million tons of various rice varieties.

Meanwhile, the country’s export of goods soared by 10.54% to reach $30.64 billion, compared to the previous year.

While exports increased, imports saw a slight decrease of 0.84%, dropping from $55.19 billion to $54.73 billion, a positive sign for economic growth.

A significant highlight was the 20% increase in meat and meat product exports, which reached $512 million, the highest level ever recorded. The SIFC and the Ministry of Commerce played a crucial role in opening new markets for meat exports in Jordan, Uzbekistan, Lebanon, and Egypt.