Waqas Aslam emphasized the need for immediate action to sustain rice exports, while Ali Hussam praised the committee’s collaborative efforts
By Commerce Reporter
LAHORE – The Lahore Chamber of Commerce & Industry (LCCI) Standing Committee on Rice Export, led by Convener Waqas Aslam (Super Foods), convened to discuss key challenges faced by the rice sector. Ali Hussam (Ali Commercial) attended as a special invitee, along with Faisal Jahangir (Chairman REAP), Yawer Sajjad ( Sunrice Foods), Adnan Aslam (MAP Rice), Saad (Vital Foods), Waheed Ahmed (Supreme Rice), and Hasan Saeed (Hafiz Rice).
The committee proposed vital measures to address sectoral concerns, including:
– Inclusion of rice exporters in the FBR’s fast-track sales tax refund system.
– Elimination of the 1.5 per cent withholding tax on raw rice purchases and the 1 per cent tax on export payments.
– Tax exemptions for rice bran, husk, and cereal by-products.
– Duty-free import of advanced machinery like Sortex machines and silos.
– Reclassification of grain silos under HS Code 8479.8997 to reduce storage costs.
– Increased SBP refinance funds and reduced banking markup rates for exporters.
– Streamlined one-window tax system to enhance export efficiency.
Waqas Aslam emphasized the need for immediate action to sustain rice exports, while Ali Hussam praised the committee’s collaborative efforts. The recommendations will be submitted to government authorities for prompt resolution.
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