KARACHI: Boosted by the demand for Pakistani rice, the country’s exports to Saudi Arabia show 35.4 percent increase during the current fiscal as the two countries move ahead ensuring quality standards, trade officials told Arab News on Monday.
“Our exports to the Kingdom have increased by 35.4 percent this year by June 9, 2020 as compared to last year, “Azhar Ali Dahar, trade & investment chief at the Pakistani embassy in Riyadh, told Arab News over the phone. “We could have reached the $500 mln mark under normal circumstances,” he added.
Pakistan recorded its export volume with Saudi Arabia at $417 million during the fiscal period from July 2019 to June 2020 as compared to the $308 million for the year before, according to official data.
Pakistani officials say that Saudi appetite for Pakistani rice played a vital role in the country’s increased export quotient to the Kingdom — constituting 57 percent by value and 45 percent in terms of quantity.
“The export of rice increased from $68.5 million to $107.4 million. The demand for the rice was mainly due to the focus of Saudi authorities on the quality standards as Indian rice contains carcinogenic substance due to heavy use of pesticides,” Dahar said, adding that “continued exports from Pakistan during lockdown and emphasis on quality played a key role.”
India has been a major rice exporter to the Middle East and Europe but due to the presence of high level of tricyclazole pesticide in its agricultural produce, the EU banned import of rice from India in January 2018 after lowering the maximum residue limit (MRL) level for tricyclazole fungicide to no more than 0.01 mg per kilogram.
“Saudi authorities have begun imposing the regulations to match quality standards with that of European Union. If Saudi Arabia implements the standard, Pakistani rice exporters would standout as major beneficiaries,” Raza said. “Our exports to EU have also doubled,” he added.
India’s virus lockdown further opened the mid eastern market for Pakistani rice.
“When India imposed lockdown, the situation was such that every country wanted to build the food stock to ensure supplies so the importers in Saudi Arabia and other Middle Eastern countries turned to Pakistan to maintain rice stock,” Muhammad Raza, Senior Vice chairman of Rice Exporters Association of Pakistan (REAP). told Arab News.
Pakistan is among the top 10 rice producing countries in the world. The production of rice is expected to remain stagnant at 7.2 million tons in the current fiscal year FY20, according to State Bank of Pakistan.
However, exporters say that the country has more than 3.3 million tones of exportable surplus and there is not shortage of grain in the country.
Officials view the next year to be challenging for Pakistan in terms of food exports given the current crises engulfing the South Asian nation, although efforts are underway to diversity the export basket.
Dahar said, “The COVID-19 and Locusts invasions have posed food security threat as the country itself would need to ensure availability of food stocks.”
“We are focusing on IT, textile, Halal meat exports to the Kingdom. Besides, efforts are underway to lift the ban on import of fish products from Pakistan imposed by the Saudi authorities,” he said.
Saudi appetite for rice boosts Pakistan’s exports by 35%
https://arab.news/ctvye
Saudi appetite for rice boosts Pakistan’s exports by 35%
- Pakistan records bilateral exports at $417 mln during current fiscal year despite global pandemic
- The export of Pakistani rice to the Kingdom increased from $68.5 million to $107.4 million this year
Iran says it killed six ‘terrorists’ linked to Israel in province bordering Pakistan
- Iranian media says the group planned an attack on a ‘vital’ site in eastern Iran, without providing details
- Authorities say seven ‘non-Iranian’ suspects were involved in the main team, with no nationality disclosed
TEHRAN: Iranian forces have killed six militants in a raid in the restive southeast, state media reported Saturday, saying they were members of a “terrorist” group linked to arch enemy Israel.
“During an intense exchange of fire with terrorists in Sistan-Baluchistan province, six assailants were killed and two others arrested,” official news agency IRNA said, citing a statement from the intelligence services.
The report did not provide an exact location or say when the raid took place.
Sistan-Baluchistan, which borders Pakistan and Afghanistan, has long been a flashpoint for clashes between security forces and armed groups, including drug traffickers and separatists.
IRNA said there were “documents” indicating “the Zionist nature” of the group targeted in the latest raid, adding that its members had planned to attack a “vital” facility in Iran’s east, without elaborating.
The report said that “the main operation team” was composed of “seven non-Iranian terrorists,” but did not specify their nationality.
Two intelligence agents and a police officer were wounded in the gunfight, IRNA said.
Iran regularly reports deadly ambushes in the province targeting police or members of the Islamic Revolutionary Guard Corps.
On Friday, the Sunni jihadist group Jaish Al-Adl (Army of Justice), which Tehran outlaws as a “terrorist” organization, claimed an attack in Sistan-Baluchistan that killed five police officers.
On Sunday, Iranian state media said security forces had killed seven members of another jihadist group, Ansar Al-Furqan, also in Sistan-Baluchistan.
The province, which is home to a large Sunni Muslim Baluch minority, is one of the poorest regions of the Shiite-majority country.
Pakistan’s deputy PM seeks ‘forward-looking’ ties with Bangladesh, urges revival of SAARC forum
- Ishaq Dar’s visit marks the highest-level trip by any Pakistani official to Bangladesh in many years
- It comes amid thaw after Sheikh Hasina’s ouster, widely seen as pro-India and critical of Pakistan
ISLAMABAD: Pakistan’s Deputy Prime Minister and Foreign Minister Ishaq Dar said on Saturday his country wanted a “forward-looking” relationship with Bangladesh based on what unites the two nations, while calling for the revival of the South Asian Association for Regional Cooperation to help deliver peace and prosperity across the neighborhood.
Dar’s visit follows months of increased official contacts after ties began to ease in the wake of Bangladesh’s former prime minister Sheikh Hasina’s ouster last year in a popular uprising. Hasina, widely viewed as close to India and critical of Pakistan, fled to New Delhi soon after her downfall, straining relations between Dhaka and New Delhi.
The shift also created space for Bangladesh and Pakistan – once a single nation until the bloody 1971 war of independence – to reset relations.
Dar, who arrived in Dhaka earlier today, is on the highest-level trip by a Pakistani official to Bangladesh since Hasina’s ouster.
“Notwithstanding the twists and the turns of history, the people of Pakistan have fraternal sentiments toward the people of Bangladesh and hold them in the highest esteem,” he said, as he addressed a gathering at the Pakistan High Commission. “We recognize and respect the sovereign choices of the Bangladeshi nation, and believe in a future where our relations are defined not by what divides us, but what unites us.”
“I wish to underscore the strong desire of the government of Pakistan to forge a cooperative and forward-looking relationship with Bangladesh,” he added.
Dar noted the Pakistan-Bangladesh relations had seen “a number of positive developments” over the past year, citing significant progress across multiple streams of cooperation.
He pointed out that the frequency of high-level exchanges had increased, institutional mechanisms were being revived, economic and commercial ties were gaining momentum and educational and academic collaborations were being explored alongside cultural exchanges, describing the current phase as marked by “new energy and fresh enthusiasm.”
The Pakistani deputy prime minister added both countries shared common ground on several regional and international issues and reiterated support for reviving SAARC, a forum that has largely been dysfunctional since 2016, when India boycotted a planned Islamabad summit amid tensions with Pakistan.
No leaders’ summit has been held since. Pakistan’s push to revive the bloc comes as ties with India are at a low for both Islamabad and Dhaka.
“South Asia, home to nearly a quarter of humanity, cannot afford to lag behind in regional cooperation and integration,” the deputy PM said. “We are hopeful that SAARC will be reinvigorated, and our distances will shorten.”
Earlier, Dar met leaders of Bangladesh’s newly formed National Citizen Party (NCP), a student-led movement that spearheaded the protests which unseated Hasina.
The party, formally launched earlier this year, has called for a “second republic” with a new constitution aimed at strengthening democracy and social justice.
Its emergence has reshaped Bangladesh’s political landscape, challenging decades of dominance by traditional parties and giving voice to younger generations.
Dar emphasized the need for greater interaction between the youth of the two countries.
As part of his outreach to political stakeholders, he also met a delegation of the Bangladesh Jamaat-e-Islami party and discussed ways to strengthen bilateral relations between the two nations.
Additionally, he interacted with the Bangladesh Nationalist Party leadership and affirmed his country’s commitment to stronger ties on the basis of mutual respect and benefit.
The Pakistan deputy PM is scheduled to meet Chief Adviser Muhammad Yunus and senior officials including Adviser for Foreign Affairs Md. Touhid Hossain and Adviser for Commerce SK Bashir Uddin during his two-day stay in Dhaka.
Pakistan says power mostly restored in northwest flood zones as monsoon toll hits 788
- Information minister says no national highways are blocked as federal authorities assist KP administration
- Shehbaz Sharif instructs disaster agencies to step up operations and prepare for two more monsoon spells
ISLAMABAD: Federal Minister for Information and Broadcasting Attaullah Tarar said on Saturday the government had restored electricity in most flood-affected districts in the northwestern Khyber Pakhtunkhwa (KP) province, reported state media, as the nationwide monsoon death toll climbed to 788 since late June.
Annual monsoons are vital for agriculture and replenishing water supplies, but in recent years they have also unleashed destructive flooding and landslides
The latest downpours, which intensified from Aug. 15 in districts such as Swat, Shangla, Buner and Swabi, killed hundreds across KP and raised fears of a repeat of the catastrophic 2022 floods that submerged a third of the country and caused $30 billion in damage.
More rain is forecast through the end of the month, likely to affect Islamabad, Azad Kashmir, KP, Punjab, Gilgit-Baltistan and coastal districts in Sindh and Balochistan.
“Minister for Information and Broadcasting Attaullah Tarar says the electricity has mostly been restored in flood affected areas of Khyber Pakhtunkhwa,” Radio Pakistan said.
“Giving the latest updates about rescue and relief efforts … he said that out of sixty feeders, fifty-two have been restored in Swat, Shangla, Buner and Swabi,” it added.
Tarar also said the remaining eight feeders will soon be restored.
The minister said no national highways were blocked at present and federal authorities were assisting the KP government in reopening provincial roads.
He added that the National Disaster Management Authority (NDMA) has been coordinating with provincial bodies, while the Pakistan Army has deployed units to reinforce rescue and relief work.
According to the latest NDMA situation report, the monsoon death toll in the country has reached 788, with over 1,000 people injured in rain-related incidents from Jun. 26 to Aug. 23.
KP has been the worst-hit, with 469 deaths, most of them caused by the recent cloudbursts beginning on Aug. 15.
Prime Minister Shehbaz Sharif has also instructed the disaster agencies to step up their activities in flood-hit areas, and prepare for the next two monsoon spells forecast by the weather authorities.
Pakistan cricket chief rules out talks on sports ties after India hardens stance on bilateral games
- India announced this week to expand its ban on bilateral sporting activities with Pakistan beyond cricket
- PCB chairman Mohsin Naqvi tells reporters any talks with India over the issue would be on equal footing
ISLAMABAD: Pakistan Cricket Board (PCB) Chairman Mohsin Naqvi said on Saturday any talks with India over sporting ties would only take place on an equal footing, stressing that his country would not seek negotiations with its neighbor.
Political tensions between the two nuclear-armed states, including a four-day military conflict earlier this year, have spilled into sports, with India announcing this week it would no longer allow any bilateral sporting clash with Pakistan. Instead, teams from both countries will only meet in multilateral tournaments.
Initially, New Delhi’s restriction was only limited to cricket.
“We are very clear that whenever talks [on sporting ties] are held with India, they will be on an equal footing,” Naqvi told reporters in Lahore when asked about New Delhi’s latest decision
“There will be no more begging for negotiations,” he continued. “That time has gone. Whatever happens will be on the basis of equality.”
The PCB chief also voiced hope that Pakistan’s players would put up a strong performance in their Asia Cup cricket clash against India, scheduled for the coming month in the United Arab Emirates.
Cricket, the most popular sport in both countries, has long been a casualty of fraught relations.
In recent years, the two boards have followed a “hybrid model” in which tournaments hosted by Pakistan had some of the matches shifted to neutral venues to accommodate India’s refusal to tour.
Pakistan, which urged India not to let politics overshadow cricket, sent its men’s team for the 2023 One-Day International World Cup in India.
However, this time round, as India prepares to host the Women’s World Cup, Pakistan will play all their matches in Colombo.
India has also hardened its stance further since the May military standoff, with New Delhi now issuing a formal ban on any bilateral sporting encounters.
Pakistan’s finance chief says 15% of citizens in digital assets, urges adoption of ‘new economy’
- Muhammad Aurangzeb says government drafting virtual assets bill, to be reviewed by parliament
- He says Pakistan Virtual Asset Regulatory Authority set to hold inaugural meeting on August 25
ISLAMABAD: Federal Minister for Finance and Revenue Muhammad Aurangzeb said on Saturday the country could not ignore the rapid growth of digital assets, pointing out that about 15 percent of citizens were already involved in the sector, prompting the government to work on a regulatory framework for virtual investment.
The minister’s remarks came at the Leadership Summit on Blockchain and Digital Assets in Islamabad, where he highlighted the need to harness emerging technologies to align Pakistan’s economy with global trends.
He said the government’s role was to provide a regulatory framework and enabling environment, while the private sector and youth were expected to drive innovation.
“When you see 20 to 25 million citizens of this country participating in this activity in one form, shape or the other … you cannot ignore that,” he said in his address to the conference.
He added the realization that “10 to 15 percent of the citizens of this country” were investing in virtual assets led to the genesis of the discussion on cryptocurrency in Pakistan.
Aurangzeb said the government had already established the Pakistan Crypto Council and the Pakistan Virtual Asset Regulatory Authority, whose inaugural meeting is scheduled on Monday, August 25.
A draft bill on digital investment and virtual assets is also being submitted to the Senate Standing Committee on Finance and will soon be moved to the National Assembly for approval.
The Pakistani finance chief described the expansion of digital assets as part of Pakistan’s entry into the “new economy,” stressing the importance of transparency, clear rules and learning from international models.
“I’m very clear that the private sector has to lead this country, and the government just needs to provide the ecosystem,” he added.
Aurangzeb noted it was vital for Pakistan to accelerate its economic journey by embracing new global trends, though he also maintained that “we must go into this with our eyes and ears open.”
