Govt implements Ramazan export ban to stabilise prices

The government has implemented a temporary ban on the export of bananas and onions during Ramazan in response to rising prices.

In the National Assembly on Friday, Federal Minister for Commerce Jam Kamal Khan addressed concerns regarding the export ban, clarifying that it is specifically for Ramazan and is temporary.

The decision to impose the ban was made at the cabinet level following the submission of a summary by the Ministry of National Food Security and concerns raised by the Sensitive Price Index and export associations. This action was prompted by a calling attention notice raised by Syed Naveed Qamar and other legislators regarding the impact of the ban on agricultural exports.

Minister Jam Kamal Khan assured the assembly that the ban would remain in effect until the 15th of the following month, highlighting the government’s sensitivity to the concerns raised by agriculturists.

Read: Oil prices may be left unchanged in Ramazan

The temporary ban aims to ensure adequate domestic supply of these essential commodities during the holy month, alleviating concerns among the public and preventing a false perception of scarcity.

While the ban restricts export opportunities for farmers in the short term, it demonstrates the government’s proactive approach to managing food security during religious observances.

However, Kamal assured that the government is attentive to the concerns of agriculturists and indicated that the timeframe for the ban could be shortened if circumstances permit.

Published in The Express Tribune, March 16^th, 2024.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.