ISLAMABAD: Finance Minister Asad Umar has emphasised that the government will fully exploit the export potential of classical Pakistani furniture in order to boost overall exports of the country besides helping the sector capture international furniture markets.
Talking to Pakistan Furniture Council (PFC) Chief Executive Mian Kashif Ashfaq, the minister said PFC demands had been accorded due importance. “In fact, the government has allowed duty-free import of raw material to the tax-paying manufacturers,” the minister said.
According to a statement issued on Monday, Umar noted that the country was blessed with skilled artisans and craftsmen, who had the talent to produce world-class handmade furniture and the sector enjoyed massive demand on a global scale.
Saying that Pakistan was moving forward in its efforts to attract international investment, the minister praised the PFC for utilising all resources to create opportunities for foreign investment.
“Young entrepreneurs are a great asset as well as the future of Pakistan,” he stressed and suggested that they should focus on promoting Pakistani brands in foreign countries.
He directed the entrepreneurs to visit foreign countries after a comprehensive homework on targeted countries and products so that they could achieve desired results.
The minister pointed out that Pakistan’s investment profile had been upgraded by all leading rating agencies on account of economic reforms and improved security situation.
“All the fundamental economic indicators are now improving with exports moving up while imports are going down,” he added. “Gradually, the current account deficit will be eliminated.”
On the occasion, PFC Chief Executive Ashfaq praised the finance minister for ensuring support and assistance, both financial and technical, to revitalise ailing industries in Pakistan, especially the furniture sector, which was ignored by previous governments.
He also assured all-out support from the business community for implementing the latest reform agenda and overcoming the economic challenges.
