Minimum export price for rice withdrawn

ISLAMABAD: The Ministry of Commerce has withdrawn the minimum export price (MEP) for rice, a move expected to lead to a decrease in export value and increase under-invoicing during the current fiscal year.

In November last year, the ministry had notified the MEP for several types of rice, leaving minimal margins for Dubai-based Indians to export Pakistani rice under their trademarks. The apparent reason for that decision was the Indian government’s ban on rice exports, while Dubai-based...