PFC urges rebuilding economy

Chief executive says furniture sector can help boost exports

LAHORE: The Pakistan Tehreek-e-Insaf (PTI) government should utilise all available resources to put the country on the path of self-reliance, said Pakistan Furniture Council (PFC) Chief Executive Mian Kashif Ashfaq. He was of the view that the country needs trade, not aid, to overcome its woes and rebuild the economy that had been badly hit due to unfitting policies of the previous governments.

Chairing a board of directors' meeting, he said Pakistan should develop business relations with European countries as well as with the US instead of seeking aid. If proper steps are taken in this regard, Pakistan's exports to these countries could be doubled within a short span, Ashfaq added. He suggested that the coming government should take immediate measures to remove Pakistan from the Financial Action Task Force's (FATF) grey list.



He said that the European bloc will remain the biggest export market for the country's furniture sector in coming years despite a huge influx of Chinese investment in the South Asian nation. Bilateral trade between the EU and Pakistan stood at €10.5 billion in 2017.

"The first target should be to at least triple the trade figure in coming years," he said.

Throwing light on the expansion plan of Pakistan's handmade furniture products, the PFC chief said that the demand of Pakistani furniture articles in international markets is on the rise and there is a need to focus on provision of raw wood and proper training to carpenters.



He further elaborated that the local furniture industry is also facing shortage of carpenters to meet international demand, which is continuously on the rise.

"We will have to import modern machinery for preparation of furniture," said the PFC chief, adding that Pakistan used to export furniture articles worth over $60 million.

 

Published in The Express Tribune, August 4th, 2018.

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