In an important step to rein in soaring rice prices, a bilateral agreement to import non-basmati white rice, widely known as Atap rice, was signed between Bangladesh and Pakistan. The deal was signed by the Trading Corporation of Pakistan and Bangladesh’s Directorate General of Food (DGoF) on a Government-to-Government (G2G) basis.
Rice prices in Bangladesh have risen by 15-20% over the last few weeks, straining consumer budgets. Coarse rice is now priced at Tk 60-62 a kg, medium at Tk 68-72 and finer rice at Tk 78-94, making it almost beyond the reach of many for this staple food.
The signing ceremony was attended by dignitaries from both nations, including Sayed Rafio Bashir Shah, Chairman of Trading Corporation of Pakistan and Md. Abdul Khaliq, Director General of DGoF Bangladesh. Also present at the signing were Bangladesh’s Food Secretary Md Masudul Hasan and Pakistan’s Commerce Secretary Shakeel Ahmed Mangnejo, among others.
Bangladesh has scrapped all import duties on rice to make its imports smoother and cheaper. The move is intended to bolster supply and reduce costs for consumers. The trade agreement is likely to ensure stability in the rice and strengthen the economic and trade relations between Bangladesh and Pakistan, depicting a novel collaboration between the neighbours.
Source: The Financial Express
