(MENAFN) Arrangements are being seen through by Pakistan to export the excess rice to Iran instead of the money Pakistan has to pay for electricity import.
If things work out, Pakistan will ship one million tons of basmati rice to Iran, up from the recent annually exported 700,000 tons, before the Iranian sanctions.
Pakistan owes more than USD100 million to Iran for electricity import, let alone the Iranian ban on rice imports from Pakistan which was valid up until recently.
Almost 90 percent of rice is currently imported from India even though imports from Pakistan are more economical, but things are about to change starting next October.
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