January 02, 2023 (MLN): The State Bank of Pakistan (SBP) has pledged to address the problems being faced by the carpet business owners as soon as possible, said a senior SBP official on Sunday during a meeting with Pakistan Carpet Manufacturers and Exporters Association (PCMAEA).
The carpet manufacturers requested SBP officials to maintain the credit term, lift the ban on third-party exports, and solutions to the problems faced by exporters owing to currency volatility.
Usman Ashraf Senior Vice Chairman of PCMAEA informed the SBP officials that the hand-woven carpet industry was a cottage industry while the semi-finished raw materials were imported from Afghanistan and further processed in various locations throughout Pakistan.
He suggested that the 270-day credit period for exporting handmade carpets be maintained as it had been. He claimed that third-party shipment challenges were also faced by the exporters of handmade carpets.
“The exporters of hand-woven carpets industry are of good repute and have been exporting to foreign buyers from various countries. It is surprising that this restriction has been imposed by the SBP, to which money will be received and the shipment of the products will also be gotten for the same country,” he added.
SBP officials assure the delegation that their demands would be taken into consideration and issues would be resolved on priority.
