Daily Times

Federal Finance Minister Asad Umar Monday said the government will fully exploit the export potential of Pak-made classical furniture to boost the export of the country besides patronizing this sector to capture share in international furniture markets.

He expressed these views while talking to Pakistan Furniture Council (PFC) Chief Executive Mian Kashif Ashfaq here today. The minister said that demands of PFC were given due importance and allowed duty free furniture raw material import for furniture manufacturer registered with federal sale tax.

Asad Umar said Pakistan is blessed with artisans, craftsmen and host of other skilled force to produce best handmade furniture in the world and it has a huge demand in global market. He further said Pakistan was moving forward in a better position to attract international investment and it was highly praiseworthy that PFC was utilising full available force to create opportunities for foreign investment in the country by creating business-to-business contacts with foreign furniture producers.

He said that our young entrepreneurs were a great asset and future of Pakistan and they should focus on promoting Pakistani brands in foreign countries. He said young entrepreneurs should visit foreign countries with proper homework on target countries and products so that they could achieve meaningful results.

Asad Umar further said that Pakistan’s investment profile had been upgraded by all leading rating agencies on account of successful economic reforms and improved security situation. “All the fundamental economic indicators are now improving with exports witnessing an upward trend while the imports are decreasing and the current account deficit is also being overcome gradually,” he added.

Mian Kashif Ashfaq thanked Finance Minister Asad Umar on this occasion for ensuring support and assistance both financial and technical to revitalize the sick industry in Pakistan especially furniture sector which was gravely ignored during previous elected governments. He also assured the minister that the business community of the country would extend its full support to the government towards implementing its reform agenda and overcoming the current economic challenges.

He said that PFC is a nonprofit organization and none of its CEO and members of board of directors are taking single penny benefits and any sort of perks since its inception in 2011 and all of them are working in honorary capacity. He said that PFCis playing its due role efficiently for promoting of furniture brands not only inside the country but also abroad by displaying world class innovative designs suit to aesthetic sense of buyers.

He said Pakistan has good potential to enhance furniture exports to USA and Europe by developing good brands and business community should focus on branding of products to promote business activities and improve exports.

Published in Daily Times, January 29^th 2019.