reap_new-logo
About Us  I    Send Feedback  I    FAQs  I    Contact Us
Follow Us:  social-media-icons
Facebook Twitter
 
HomeAbout ReapAbout PakistanAbout RiceNews & EventsPhoto GalleryUseful LinksDownloads
announcement
REAP's Rice Conference - 26/27 November 2018 at Larkana
flag text
Facebook Twitter

  About Reap
  Chairman's Message
  About Pakistan
  Managing Committee
  Chairman Archive
  Reap Members
  Reap's Secretariat
  About Rice
  Reap at a Glance
  News & Events
  Photo Gallery
  Useful Links
  Downloads
  Send Feedback
  Contact us
Home > News Updates > News Headlines
News Headlines

RICE INDUSTRY TARGETS INCREASING EXPORTS IN 2018-20 WITH BETTER FINANCES
1/23/2018

MYANMAR TIMES (23/01/2018)

RICE INDUSTRY TARGETS INCREASING EXPORTS IN 2018-20 WITH BETTER FINANCES

The Myanmar Rice Federation (MRF) will prioritise scaling up exports for rice between 2018 and 2020, according to the MRF’s SME development plan, which was announced on Sunday. 

In addition, the Ministry of National Planning and Finance and the MRF will work together to support SMEs in the rice sector to secure loans. 

The government aims to set the target loan amount totalling K65 billion to small and medium-sized enterprises (SMEs) in the rice sector. The MRF, with the applied SME loans, plans to allocate the financial resources into eight sectors, including seed production, export business, joint-venture formation, upgrading machineries, setting up rice mills and power supply, among others.
State-owned Myanmar Agricultural Development Bank (MADB) announced on January 1 that they will grant loans to agriculture-related SMEs this month. 

In addition, the MRF is drafting a working programme for the rice sector, in terms of finances, management and other issues which SMEs are facing. Implementation is expected to begin in April.

The construction of rice and paddy warehouses and related machineries will be set as priorities, thus those projects will be given special consideration for loans. The MRF expects that 20 percent of all the loans will be dedicated to warehouses, whereas 18pc will go to construction of energy plants and 17pc will have reserved for upgrading rice machineries on the field.

According to the MADB, the loans will carry an interest rate of 9pc and businesses which cannot offer collateral will be supported by Credit Guarantee Insurance.

U Soe Tun, MRF vice chair, said that if the country’s rice sector enjoys robust growth, the national economy will also develop significantly. Apart from loans and finances, the government will support the modernisation of technology and market access.

U Nay Lin Zin, managing director of Myanmar Rice Mill Company, commented that a strong export market is necessary for sustainable development for the sector. Hence, the administration and rice federations will need to join forces to secure more government-to-government export arrangements.

HOME
ABOUT REAP
ABOUT PAKISTAN
USEFUL LINKS
OTHER LINKS
MEDIA
 
Ministry of Commerce
Trade Development Authority of Pakistan
Ministry of Foreign Affairs
Official Gateway of Pakistan
Ministry of Finance
Federal Board of Revenue
Security & Exchange Commission of Pakistan
News & Events
  Photo Gallery
  Video Gallery
  Weather
    RSS Feeds
     
       
Copyright 2015 © reap.com.pk - All rights reserved - Developed by: EDCP