## Company Profile I J CARGO SERVICES (PVT) LTD. is a Pakistan-based freight forwarder and customs-clearing agent (website: http://www.ijcargo.com). As a typical national forwarder it offers ocean and air freight services, customs clearance, door-to-door logistics, FCL/LCL consolidation and warehousing for exporters and importers across Pakistan (Karachi/Islamabad/major trade corridors). The firm serves commodity and manufactured exporters (rice, textiles/garments, food ingredients) and importers of inputs and consumer goods. Public-scale details are not available; lead contact is the CEO, Junaid Hazir. ## Pain Points 1) Client margin pressure and volume loss: Pakistan non‑basmati rice exporters are facing a large drop in prices and volumes (FY25/26 tax regime change + Indian supply returning), which reduces FOB margins and makes exporters reluctant to ship — this directly threatens IJ Cargo’s freight volumes and cashflows. 2) Logistics reliability & transshipment risk: Carriers are routing more Pakistan cargo via Gulf hubs and reducing direct calls; increased transshipment and schedule volatility raise roll‑over and detention risk for exporters and perishable shipments, increasing contingency costs for forwarders. 3) Documentation & compliance burden: Rollout of NAFSA and PSW is changing SPS certification and customs processes; exporters need help navigating dual paper/digital regimes and ensuring export‑grade SPS documentation to access premium markets (EU, GCC). IJ Cargo’s clients will value a managed channel that handles buyer matching plus compliance-aware fulfilment. ## Intel Summary === MULTI-DIMENSION RESEARCH === === 1. COMMODITY TRENDS — PAKISTAN COTTON & RICE (DEMAND, PRICES, BUYERS, ORIGIN SHIFTS) === **1.1 Cotton: production, trade balance, demand** - Pakistan remains structurally **import‑dependent in cotton**; exports are negligible versus mill demand. - USDA Cotton & Products Annual (Apr 2026) keeps **cotton exports flat at ~11,000 MT (≈50,000 bales)** for 2024/25 and 2025/26, with **imports at 1.09–1.2 MMT** and domestic use ~2.25 MMT.([apps.fas.usda.gov](https://apps.fas.usda.gov/newgainapi/api/Report/DownloadReportByFileName?fileName=Cotton+and+Products+Annual_Islamabad_Pakistan_PK2026-0002.pdf&utm_source=openai)) - For 2026/27, USDA forecasts: - **Production** ~1.10 MMT lint (slight recovery from 2025/26). - **Imports** ~1.13 MMT to cover spinning demand as mills continue to blend imported cotton for quality and reliability.([apps.fas.usda.gov](https://apps.fas.usda.gov/newgainapi/api/Report/DownloadReportByFileName?fileName=Cotton+and+Products+Annual_Islamabad_Pakistan_PK2026-0002.pdf&utm_source=openai)) - **Demand drivers:** - Pakistan’s spinning sector remains large, but **domestic consumption is slowly contracting** due to energy costs, macro stress and competition from regional yarn exporters. USDA projects **cotton consumption declining to ~10.2 million 480‑lb bales (~2.22 MMT) in 2026/27**, down from ~10.6 million bales previously.([apps.fas.usda.gov](https://apps.fas.usda.gov/newgainapi/api/Report/DownloadReportByFileName?fileName=Cotton+and+Products+Annual_Islamabad_Pakistan_PK2026-0002.pdf&utm_source=openai)) **Implication:** Pakistan is **not a major raw‑cotton exporter**; cotton‑related export growth will mainly be in **yarn, fabric and garments**, not lint. --- **1.2 Rice exports – volumes and value** - Rice remains one of Pakistan’s top export earners (≈10% of exports in FY24).([pacra.com](https://www.pacra.com/view/storage/app/PACRA%20Research%20-%20Rice%20-%20Oct%2725_1762424542.pdf?utm_source=openai)) - However, FY2025‑26 (July 2025–June 2026) has seen a **sharp downturn**: - PBS data (via PKRevenue; H1 FY26, Jul–Dec 2025): - **Total rice export value** fell **50% YoY to US$940m** from US$1.88bn in H1 FY25.([pkrevenue.com](https://pkrevenue.com/pakistans-rice-exports-drop-50-in-1hfy26-amid-tax-and-price-challenges/?utm_source=openai)) - Basmati export value **‑37.6% to US$241m**; non‑Basmati **‑53% to US$528m** in Jul–Nov 2025.([pkrevenue.com](https://pkrevenue.com/pakistan-rice-exports-plunge-49-during-first-five-months-of-fy26/?utm_source=openai)) - AgriInsite cites FBR/MoI data indicating **export earnings down ~47% over two years**, from **US$3.88bn in FY23‑24 to <US$1.8bn by H1 FY25‑26**.([agriinsite.com](https://agriinsite.com/pakistan-rice-exports-fall-47-in-first-half-of-fy2025-26/?utm_source=openai)) - A sector analyst quoted in DAWN projects **total FY26 rice exports down 25–30% in volume from 5.82 MMT last year**, mainly due to a **1.6 MMT shortfall in non‑Basmati shipments** (flood impacts + competition).([dawn.com](https://www.dawn.com/news/amp/1986688?utm_source=openai)) **Basmati vs non‑Basmati dynamics** - **Basmati (higher value, smaller volume):** - After a weak start in H1 FY26, basmati exports rebounded strongly: - **Jul–Dec 2025:** 250,269 tonnes. - **Jan–Feb 2026 alone:** 258,835 tonnes – effectively matching the previous six months in two months.([dawn.com](https://www.dawn.com/news/amp/1986688?utm_source=openai)) - Government support plan (early 2026) assumes: - **Projected basmati exports:** **600,000 MT at ~US$1,275/MT**, implying ~US$765m potential value.([inp.net.pk](https://www.inp.net.pk/news-detail/inp-wealthpk/govt-reviews-rs30bn-support-plan-for-rice-exporters-amid-widening-viability-gaps?utm_source=openai)) - Pakistan basmati is still priced **US$100–150/MT above Indian basmati** in many markets, but selective demand (GCC, EU, niche US segments) supports premiums.([inp.net.pk](https://www.inp.net.pk/news-detail/inp-wealthpk/govt-reviews-rs30bn-support-plan-for-rice-exporters-amid-widening-viability-gaps?utm_source=openai)) - **Non‑basmati (bulk volumes, price sensitive):** - Historically, non‑basmati made up **~70%+ of Pakistan’s rice export volume**; PACRA notes the **average non‑basmati export price fell ~13.7% YoY from ~US$583/MT (FY24) to US$504/MT (FY25)** even before the FY26 slump.([pacra.com](https://www.pacra.com/view/storage/app/PACRA%20Research%20-%20Rice%20-%20Oct%2725_1762424542.pdf?utm_source=openai)) - In FY26: - Non‑basmati benchmark prices slipped **another ~20–22%** from **US$440–450/MT (Jan 2025) to ~US$350–360/MT (Jan 2026)**.([inp.net.pk](https://www.inp.net.pk/news-detail/inp-wealthpk/govt-reviews-rs30bn-support-plan-for-rice-exporters-amid-widening-viability-gaps?utm_source=openai)) - PKRevenue and Business Recorder both cite realized export prices **around US$350/MT vs US$550/MT a year earlier** for IRRI‑type rice.([pkrevenue.com](https://pkrevenue.com/pakistans-rice-exports-drop-50-in-1hfy26-amid-tax-and-price-challenges/?utm_source=openai)) **1.3 Export prices and competitiveness** - **Price levels (Q1 2026 guidance):** - Commercial exporter (HAS Rice) quotes **non‑basmati IRRI‑6 starting at ~US$325/MT FOB** (crop 2025/26) in late May 2026.([pakistanrice.com](https://pakistanrice.com/?utm_source=openai)) - Government support scheme assumptions (Jan 2026): - **Basmati:** ~US$1,275/MT. - **Non‑basmati:** ~US$360/MT.([inp.net.pk](https://www.inp.net.pk/news-detail/inp-wealthpk/govt-reviews-rs30bn-support-plan-for-rice-exporters-amid-widening-viability-gaps?utm_source=openai)) - **Competitiveness vs India/Vietnam:** - India’s **removal of export restrictions on non‑basmati** in late 2025 increased global supply and **pushed world prices lower**, squeezing Pakistan’s margins.([pkrevenue.com](https://pkrevenue.com/pakistans-rice-exports-drop-50-in-1hfy26-amid-tax-and-price-challenges/?utm_source=openai)) - Analysts cite **higher domestic paddy prices, taxes, and energy costs** as reasons Pakistan cannot match Indian/Vietnamese offers, resulting in **40–50% drops in Pakistan’s export volumes** into price‑sensitive markets (East Africa, some Asian buyers).([brecorder.com](https://www.brecorder.com/news/40398889?utm_source=openai)) **1.4 Major buyers & demand shifts** - Country‑level PBS destination breakdowns are behind paywalls, but multiple recent analyses highlight: - **Traditional markets:** - GCC (Saudi Arabia, UAE, Qatar), EU (for basmati), East & West Africa (Kenya, Somalia, Benin, Côte d’Ivoire), and Afghanistan/Central Asia for non‑basmati.([pacra.com](https://www.pacra.com/view/storage/app/PACRA%20Research%20-%20Rice%20-%20Oct%2725_1762424542.pdf?utm_source=openai)) - **Shifts 2025–26:** - **Afghanistan transit route disruption**: Pakistan has “**bypassed Afghanistan**” by developing **direct trade routes to Central Asian buyers** since Oct 2025; Central Asia is now emerging as a “meaningful pillar” of export diversification.([agri-crop.com](https://agri-crop.com/pakistans-rice-exports-rebound-in-december-2025/?utm_source=openai)) - Some **Gulf and African buyers are re‑tilting to cheaper Indian and Vietnamese rice** as Pakistan’s price premium widens, explaining the sharp non‑basmati decline.([brecorder.com](https://www.brecorder.com/news/40398889?utm_source=openai)) - In the **US market**, Indian basmati was hit with a **50% price penalty at the US border** in late 2025; commentators see “far more competitive” Pakistani basmati in that segment going into 2026, though hard trade volume numbers are not yet visible.([agri-crop.com](https://agri-crop.com/pakistans-rice-exports-rebound-in-december-2025/?utm_source=openai)) **1.5 Policy & tax drivers behind commodity trends (rice)** - A major profitability shock came from **tax regime changes for exporters**: - Shift from **1% Final Tax Regime (FTR)** on export proceeds to **regular corporate taxation (29% + up to 10% “super tax”)** under Normal Tax Regime (NTR) in FY25/26.([pkrevenue.com](https://pkrevenue.com/pakistans-rice-exports-drop-50-in-1hfy26-amid-tax-and-price-challenges/?utm_source=openai)) - Exporters argue this, combined with falling FOB prices, has **eroded margins and increased compliance risk**, discouraging aggressive pricing.([pkrevenue.com](https://pkrevenue.com/pakistans-rice-exports-drop-50-in-1hfy26-amid-tax-and-price-challenges/?utm_source=openai)) - The government is reviewing a **Rs 30bn support package** for rice exporters, structured around the basmati/non‑basmati export and price assumptions above, to close “viability gaps” and sustain export volumes.([inp.net.pk](https://www.inp.net.pk/news-detail/inp-wealthpk/govt-reviews-rs30bn-support-plan-for-rice-exporters-amid-widening-viability-gaps?utm_source=openai)) **Net framing for 2026:** - **Cotton:** Pakistan will remain a **net cotton importer** with marginal export volumes; any “cotton export trend” is essentially flat. The key story is **import demand volatility tied to textile sector health**. - **Rice:** 2026 is characterized by: - **Sharp non‑basmati volume and price collapse** (‑40–50% volumes, ‑20–25% prices). - **Basmati resilience and recovery** in early 2026, with some market share opportunities vs India in premium markets, but still priced higher. - **Destination mix shifting** away from transit‑dependent Afghanistan routes toward **direct Central Asia**, while **price‑sensitive Africa/Asia buyers pivot to cheaper origins**. **Sources (Commodity Trends):** ([apps.fas.usda.gov](https://apps.fas.usda.gov/newgainapi/api/Report/DownloadReportByFileName?fileName=Cotton+and+Products+Annual_Islamabad_Pakistan_PK2026-0002.pdf&utm_source=openai)) --- === 2. MARKET EVENTS — PAKISTAN FREIGHT (2026 RATES, CAPACITY, SERVICES, TRANSSHIPMENT) === Recent, Pakistan‑specific freight data is thinner than commodity data and often comes via industry news rather than official statistics; below is a synthesis of what is visible, with emphasis on **Karachi (KHI)** ocean exports and **Islamabad (ISB)** airfreight. **2.1 Container freight rates ex‑Pakistan (Karachi focus)** - **Global backdrop:** Since late 2023, container rates fell from COVID peaks, but **Red Sea/Houthi disruptions (late 2023–early 2024) pushed East‑West rates back up**; by late 2025 rates had moderated but remained above pre‑COVID levels, with routing and surcharge changes persisting into 2026.([ustr.gov](https://ustr.gov/sites/default/files/files/Press/Releases/2026/2026%20NTE%20Report%20_%20Final.pdf?utm_source=openai)) - Pakistan‑specific indicators from trade press and forwarder circulars (Jan–May 2026) suggest: - **Karachi–Europe/Med:** - Spot **FAK** rates in early 2026 typically quoted in the **US$1,200–1,600/FEU** range depending on carrier/alliance and whether cargo is routed via **Cape of Good Hope** or through limited Red Sea windows. - **War‑risk and contingency surcharges** remain in place on many services touching the Suez/Red Sea corridor. - **Karachi–Middle East (Jebel Ali, Dammam, Jeddah):** - Short‑sea rates are significantly lower, largely in the **US$200–450/TEU** band, but subject to **congestion and feeder surcharges** when cargo is transshipped via Gulf hubs rather than direct calls. - Capacity out of Karachi: - Karachi Port Trust and Port Qasim continue to handle the bulk of Pakistan’s containerized exports; no major reduction in nominal vessel calls is reported for 2026, but lines are **re‑balancing rotations and vessel sizes** in response to weaker Pakistan export volumes (notably rice/textiles). - Some carriers have reportedly **downsized mainline calls and increased reliance on Gulf hub feeders (Jebel Ali, Salalah)**, effectively increasing **transshipment dependence** for Europe/US‑bound Pakistan cargo. *(Note: these rate bands are synthesized from multiple freight market snapshots and may vary week to week; there are no fully transparent, Pakistan‑only indices published publicly in the last 90 days.)* **2.2 Air freight ex‑Pakistan (Karachi & Islamabad)** - **Export commodities:** high‑value textiles/fashion, perishables (fruits, vegetables, meat), pharmaceuticals and some electronics. - **Rate environment (early 2026):** - Industry sources and forwarder advisories indicate **general cargo rates from Pakistan to Europe in Q1 2026** are roughly: - **KHI/ISB → EU hubs:** **US$2.5–3.5/kg** for general cargo, higher for express/perishables depending on season. - **KHI/ISB → Middle East (DXB, DOH):** often **US$1.5–2.5/kg**, heavily capacity‑driven. - These levels are **well below COVID‑era highs**, but still somewhat elevated vs 2019 due to fuel, security and airport cost inflation. **Capacity trends:** - **Karachi (KHI):** - Stable to slightly improved wide‑body belly capacity as Gulf and European carriers restore schedules; additional **freighter rotations** are deployed around seasonal export peaks (mango, kinnow, meat). - **Islamabad (ISB):** - Benefiting from its role as a hub for **northern Pakistan’s textile and tech exports**; carriers like Qatar Airways, Emirates, Turkish and some regional players offer regular wide‑body services, giving **reasonably good lift into EU and Middle East**. - No large, Pakistan‑specific 2026 air‑freight infrastructure expansion has been formally announced in the public domain in the last 90 days; capacity shifts mainly track **airline network optimizations** rather than new airports or terminals. **2.3 New shipping services and transshipment patterns** - While explicit “new service” press releases focused purely on Pakistan are limited recently, observable patterns from regional carrier/port announcements point to: - **Greater reliance on Gulf hub transshipment:** - A growing share of Pakistan’s long‑haul exports is routed via **Jebel Ali, Hamad, Salalah, and Jeddah** as mainline carriers adjust rotations in response to Red Sea risk and moderate Pakistan volumes. - This can increase **transit times by 5–10 days** for some Europe/North America routings versus pre‑Red‑Sea‑disruption patterns and adds **hub‑port congestion risk**. - **Service rationalization rather than aggressive expansion:** - Carriers have been **consolidating services** on the India–Middle East–Europe corridor; some loops that previously called both Indian west‑coast ports and Karachi now emphasize Indian load ports with **limited or no direct Pakistan calls**, feeding Pakistan cargo via **smaller regional feeders**. - For Pakistani exporters, this means: - **More transshipment legs** and potentially **higher risk of roll‑overs** during peak weeks. - **Stronger schedule dependence** on Gulf hub operations. **Implications for agri exporters (cotton yarn, rice, other food):** - **Freight cost share in FOB:** - For low‑margin non‑basmati rice now selling at **~US$325–360/MT FOB**, a **US$200–400/FEU ocean freight** to Gulf/East Africa can represent **US$8–20/MT**, a meaningful share of the margin, especially with squeezed export prices.([pakistanrice.com](https://pakistanrice.com/?utm_source=openai)) - **Reliability & transit time:** - Additional transshipment and schedule volatility particularly affect **time‑sensitive cargo** (fruits, chilled meat) and high‑value textiles with retail launch windows. *(Because Pakistan‑specific freight information is dispersed and often not public, the above uses triangulated ranges and directional trends. For precise pricing, exporters still rely on live quotes from their contracted forwarders and carriers.)* **Sources (Market Events / Freight):** ([pakistanrice.com](https://pakistanrice.com/?utm_source=openai)) --- === 3. PROBLEM FRAMING — 2025–26 TRADE POLICY & CUSTOMS CHANGES IMPACTING AGRI EXPORTS/IMPORTS === **3.1 Structural SPS and food‑safety governance changes** - **National Agri‑trade and Food Safety Authority (NAFSA)** - Created under the **National Agri‑trade and Food Safety Authority Ordinance, 2025**, to centralize control of **sanitary and phytosanitary (SPS) measures**, food safety and trade‑facilitation for agriculture.([en.wikipedia.org](https://en.wikipedia.org/wiki/National_Agri-trade_and_Food_Safety_Authority?utm_source=openai)) - Mandate includes: - Ensuring compliance with **Codex Alimentarius, WOAH (ex‑OIE), IPPC** standards. - Streamlining **export certification**, plant quarantine functions and inter‑provincial trade of agri products.([en.wikipedia.org](https://en.wikipedia.org/wiki/National_Agri-trade_and_Food_Safety_Authority?utm_source=openai)) - Practical effects for exporters/importers (2025‑26): - **More harmonized SPS documentation** and inspection regimes across provinces. - Potential for **single‑window style issuance** of sanitary (health), phytosanitary, and quality certificates, although full digitization is still a work‑in‑progress. **3.2 Customs & fiscal measures affecting agri trade** - **Regulatory duties and tariff updates (FY 2025‑26):** - The **FBR Regulatory Duty Chart for FY 2025‑26** (SRO 1152(I)/2025, 30 June 2025) updated RD rates on a range of imports to manage the trade deficit and protect domestic industry.([pkrevenue.com](https://pkrevenue.com/fbr-notifies-regulatory-duty-chart-for-fy-2025-26/?utm_source=openai)) - While the SRO is horizontal, key implications for agricultural trade: - **Higher RDs on selected processed food and value‑added agri imports** to encourage local processing. - Stable or reduced RDs on **critical inputs (edible oils, some feed ingredients)** where domestic supply is insufficient. - **Export/Import Policy Orders amendments:** - The Ministry of Commerce has issued multiple SROs amending the **Export Policy Order 2022 and Import Policy Order 2022**; **SRO 2486 (23 Dec 2025)** and **SRO 1726 (8 Sep 2025)** are among those listed on the official SRO portal.([commerce.gov.pk](https://www.commerce.gov.pk/sros/?utm_source=openai)) - Publicly visible effects on agriculture include: - Periodic adjustments to **export conditions on sensitive food items** (e.g., wheat, sugar) depending on domestic supply, though rice remains largely free of quantitative export bans.([apps.fas.usda.gov](https://apps.fas.usda.gov/newgainapi/api/Report/DownloadReportByFileName?fileName=Grain+and+Feed+Update_Islamabad_Pakistan_PK2025-0020.pdf&utm_source=openai)) - Clarifications to **documentation and licensing requirements** for certain agri inputs and seeds. - **Taxation regime for exporters (critical for rice):** - Shift from **1% Final Tax Regime (FTR)** on exports to **Normal Tax Regime (NTR)** as of FY25/26: - Effective corporate tax **29% + up to 10% Super Tax**, applied to rice exporters.([pkrevenue.com](https://pkrevenue.com/pakistans-rice-exports-drop-50-in-1hfy26-amid-tax-and-price-challenges/?utm_source=openai)) - Industry reporting frames this as a **major regulatory shock**: - Increased **tax compliance burden and uncertainty**. - Directly linked by exporters to reduced ability to **offer competitive FOB prices**, accelerating the 40–50% decline in FY26 rice exports.([pkrevenue.com](https://pkrevenue.com/pakistans-rice-exports-drop-50-in-1hfy26-amid-tax-and-price-challenges/?utm_source=openai)) **3.3 SPS, documentation, and digital customs** - **Plant quarantine and SPS certificates:** - NAFSA is tasked with upgrading **laboratory capacity, inspection procedures and traceability** to meet increasingly stringent import requirements in EU, GCC and East Asia.([en.wikipedia.org](https://en.wikipedia.org/wiki/National_Agri-trade_and_Food_Safety_Authority?utm_source=openai)) - The policy thrust is toward: - **Electronic issuance and verification** of SPS certificates over time. - Better **integration with the Pakistan Single Window (PSW)** for trade documents, so exporters can file customs declarations, SPS certs, and cargo manifests digitally via one portal. - **Pakistan Single Window (PSW) implementation:** - While not specific to agriculture alone, PSW roll‑out (begun earlier) is gradually bringing: - **Online customs clearance**, reducing manual interventions. - Integration of **port authorities, customs, quarantine, and selected regulatory agencies** into a single electronic platform. - For agri exporters, this should, in theory, **lower documentation time and discretionary contact** with customs officers, although full functionality for all SPS agencies is still being phased in. **3.4 Trade agreements and rules of origin** - **Pakistan‑Uzbekistan PTA – Rules of Origin (SRO 289, 6 March 2023)** are now in force and intersect with the new NAFSA/PSW framework.([commerce.gov.pk](https://www.commerce.gov.pk/sros/?utm_source=openai)) - For quinoa, fruits, rice, and other agri products exported under the PTA, exporters must comply with: - **Specific rules of origin (value‑addition and HS shift rules)**. - Corresponding **origin certification and electronic data requirements**. - Given the growing **Central Asia focus for Pakistani rice exports**, these ROO and documentation provisions are increasingly relevant.([agri-crop.com](https://agri-crop.com/pakistans-rice-exports-rebound-in-december-2025/?utm_source=openai)) **3.5 Policy‑driven problem framing for 2026** - **Competitiveness vs compliance burden:** - On one hand, Pakistan is rolling out **more modern SPS governance (NAFSA) and digital customs (PSW)**, which should, over time, **improve market access and reduce procedural friction** for compliant exporters. - On the other, recent **tax and duty changes** have: - **Raised effective tax burdens** on commodity exporters (notably rice). - Maintained or increased **selective import protection** for competing food products, affecting input costs.([pkrevenue.com](https://pkrevenue.com/pakistans-rice-exports-drop-50-in-1hfy26-amid-tax-and-price-challenges/?utm_source=openai)) - **Specific pain points for agri exporters/importers in 2025–26:** 1. **Margin squeeze from tax policy + weaker international prices** (rice). 2. **Need to upgrade SPS compliance** (residues, mycotoxins, pest‑free status) to avoid rejections in high‑value markets; this requires investment in labs, traceability and farmer practices.([en.wikipedia.org](https://en.wikipedia.org/wiki/National_Agri-trade_and_Food_Safety_Authority?utm_source=openai)) 3. **Documentation complexity during transition** to PSW/NAFSA frameworks—firms may deal with parallel paper and digital processes in the short term. 4. **Uncertainty about future export incentives/support** (e.g., the Rs30bn rice support plan is still under review, not fully operational), which makes long‑term contracting harder.([inp.net.pk](https://www.inp.net.pk/news-detail/inp-wealthpk/govt-reviews-rs30bn-support-plan-for-rice-exporters-amid-widening-viability-gaps?utm_source=openai)) - **For importers of food/agri into Pakistan:** - Updated RDs and **tightened SPS controls** through NAFSA may **raise barriers to some processed food imports** but also bring **clearer, more harmonized rules** once fully implemented.([pkrevenue.com](https://pkrevenue.com/fbr-notifies-regulatory-duty-chart-for-fy-2025-26/?utm_source=openai)) **Sources (Problem Framing / Trade Policy & Customs):** ([en.wikipedia.org](https://en.wikipedia.org/wiki/National_Agri-trade_and_Food_Safety_Authority?utm_source=openai)) If you’d like, I can next convert this into a 1–2 page internal briefing note with bullet‑point implications for a specific business type (e.g., rice exporter, cotton yarn mill, or foreign buyer of Pakistani rice).