LAHORE
\nA delegation of Pakistan Carpet Manufacturers and Exporters Association (PCMAEA) met the top officials of the State Bank of Pakistan and presented demands to maintain the credit period as in the past, besides asking for to lift the ban on third-party shipments and apprised them of problems being faced by exporters due to dollar fluctuations and other long-standing issues.
\nUnder the leadership of senior vice chairman of the association Usman Ashraf, the central leader Abdul Latif Malik, senior members Riaz Ahmed, Shahid Hassan and Kamran Razi met SBP officials.
\nUsman Ashraf informed the authorities of State Bank of Pakistan that hand-woven carpets industry is a cottage industry, semi-finished raw materials come from Afghanistan after which the final production of carpets is done at various places in Pakistan and keeping this in mind, instead of reducing the credit period for exporters of handmade carpets, it should be kept as 270 days as in the past. He further said that exporters of handmade carpets are also facing hurdles in third party shipment.
\n\u201cThe exporters involved in the hand-woven carpets industry are of good repute and have been doing business with foreign buyers from various countries and it is surprising that this restriction has been imposed by the State Bank of the country from which the money will be received and the shipment of the products will also be gotten for the same country,\u201d he said and added that many of our foreign buyers sell our products in other countries, so the ban on third-party shipments is making foreign buyers resentful.
\nHe said if this ban is not removed, there is a fear that the tendency of foreign buyers may be shifted towards rival countries of Pakistan, which will have a negative impact on our exports.
\nUsman Ashraf added that the exporters are also facing other problems including dollar fluctuations which should also be removed and along with the shortage of dollars in the country, there are also some forces active due to which the dollar does not remain stable and due to fluctuations in the dollar, exporters are hesitant.
\nThe officials of State Bank of Pakistan assured the delegation of Carpet Association that their demands will be taken into consideration and the issues which require immediate resolution will be resolved without delay.<\/p>\n","protected":false},"excerpt":{"rendered":"
LAHORE A delegation of Pakistan Carpet Manufacturers and Exporters Association (PCMAEA) met the top officials of the State Bank of Pakistan and presented demands to maintain the credit period as in the past, besides asking for to lift the ban on third-party shipments and apprised them of problems being faced by exporters due to dollar […]<\/p>\n","protected":false},"author":2,"featured_media":260846,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[414],"class_list":{"0":"post-304962","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-sbp"},"yoast_head":"\n