Pakistan Carpet Manufacturers and Exporters Association (PCMEA) Senior Vice Chairman, Usman Ashraf said that fluctuations in the dollar created uncertainty in the export sector and that the federal government should take concrete steps to address this issue on an exigent basis.
He expressed his point of view while addressing a review meeting regarding the difficulties faced by the hand-woven carpets industry in exports.
Chairman of Carpet Training Institute Pervaiz Hanif, Senior Central Leader of the Association Abdul Latif Malik, Senior Member Riaz Ahmed, Saeed Khan, Major (Rtd) Akhtar Nazir, Shahid Hasan, Akbar Malik, Ejazur Rehman, and others were also present on this occasion.
Usman Ashraf further said in the current situation, manufacturers are reluctant to enter into any kind of contract with foreign buyers, which is likely to reduce exports. He said that dollar smuggling, rumors, and political instability among other factors play a central role in the fluctuations of the dollar, which needs to be addressed. He said that the federal government and the State Bank should make a strict policy in this regard so that there is no instability in the dollar market.
“Due to fluctuations in the dollar, there is severe difficulty in securing contracts with foreign buyers, which is having a very negative impact on the hand-woven carpet industry,” he added.
He said that according to his claim, the Federal Minister of Finance should keep the value of the dollar stable at a level so that the export agreements at the negotiating stage can be ratified and the exporters can prepare their orders in time and ensure their delivery.
