Daily Times

According to FPCCI President Mian Nasser Hyatt Maggo, tea prices can be quickly reduced if imports from Tanzania, a major producer of tea, are made more convenient. Tea is a major food item fueling inflation in Pakistan, which is heavily dependent on imports, according to him, and Pakistan should explore every possible avenue to control food inflation.

Importers and the general public are suffering because only 2pc of tea is being imported from Tanzania directly, and the pressures on Kenyan tea markets are causing Pakistan’s foreign exchange reserves to be further strained, and the exchange rate volatility is adding to the misery of importers and everyone else in the country.

Precisely what products Pakistani exporters could potentially ship to Tanzania in large quantities was explained by VP FPCCI Hanif Lakhany to the Pakistani exporters present. These products included value-added fabrics as well as pharmaceuticals and surgical supplies as well as sports equipment.

According to Mr. Zeeshan Maqsood, FPCCI’s Standing Committee on Tea Trade, Pakistan imports around 240 million kilogrammes of tea each year, while Tanzania’s share is only 3.5 million kilogrammes. It’s estimated that the tea market in Pakistan is worth $600 million, and Tanzania stands to gain significantly from a stake in it.

Jacqueline Mkindi, the CEO of Tanzanian Horticulture Association, led the counterpart delegation and invited Pakistani traders to explore the opportunities in textiles, medicines, and gemstones.