ISLAMABAD (December 06 2008): The government has set 4 million tons rice export target for the current fiscal year, and has directed Pakistan Agricultural Storage and Services Corporation (Passco) to procure paddy at the price already announced. 

The decision to this effect was taken by Prime Minister Yousaf Raza Gilani in a meeting presided over by him to discuss procurement of paddy, which also decided that 100 percent payment of indicative price of paddy would be made directly to the farmers, through designated banks.

The Passco will procure one million tons paddy at the indicative price, while TCP would pick up 0.5 million tons rice through open tenders. It was decided that arrangements would be made for export of 1.5 million tons rice through TCP, out of total export target of four million tons. The entire export process would be monitored by a committee, headed by the Minister for Agriculture, Nazar Mohammad Gondal. The meeting decided that rice, which is to be picked up by TCP for export purposes, would be inspected by the Food Department of Minfal. 

Earlier, the meeting was informed by Minfal Secretary that this year the production of rice crop was estimated at 6.5 million tons as compared to 5.5 million tons of last year. It was further stated that local consumption of rice is 2.5 million tons and there is a surplus of 4 million tons, which should be available for export. 

The meeting was attended by Minister for Agriculture Nazar Mohammad Gondal, Advisor to PM on Finance Shaukat Tarin, Advisor to PM on Petroleum and Natural Resources Dr Asim Hussain; Minfal Secretary, Passco MD, TCP Chairman and Sughra Imam, Advisor to NRB Chairman