KARACHI, Jan 20: The Rice Exporters Association of Pakistan (REAP) has set up a 'rice export free zone' on a 125-acre of land at Nooriabad aimed at achieving export target of $1 billion by the end of the current fiscal year.

In a simple ceremony held late Monday evening, the REAP allotted plots to its members through balloting conducted by the managing director of SITE Ltd. Consequently, the REAP has become first exporters' body in the country to have a free export zone for its members with a view to pushing exports from $600 million to $1 billion.

The idea of establishing a rice free zone for exporters, rice millers and growers of Sindh was floated by Senate Chairman Mohammadmian Soomro when he was governor of the province.

Speakers at ceremony paid rich tributes to the services of Abdul Rahim Janoo for the development of rice exports. Muhammadmian Soomro had announced the amendment of land to the REAP members for the rice free zone in Ramazan and the idea was translated into reality within two months.

On the occasion, Export Processing Zone Authority (EPZA) Chairman Lt-Col (retd) Syed Akbar Hussain said that he witnessed the fall of rice exports at the hands of defunct Rice Export Corporation of Pakistan (RECP).

However, after a short period of lull when rice exports were de-regularized and the private sector was allowed to enter export business, rice exports suddenly started picking up under the leadership of Abdul Rahim Janoo when he was chairman of the association for the past two years.

The EPZA chairman suggested that a huge set of storage and gowdowns of the defunct RECP at Pipri still offered a great opportunity for the exporters to build a modern complex of rice exports to work as processing site as well as export terminal. He said the Pipri gowdowns had great advantage as they are in the proximity of the Port Qasim and also have easy access to railways.