ISLAMABAD, Oct 19 (INP-WealthPK): A new market exploration programme undertaken by the Pakistan Furniture Council (PFC) aims to increase the country’s furniture exports to $1 billion within five years.
“This is a realistic target, which could be achieved in five years if things continue to flow smoothly,” PFC Chief Executive Officer Mian Kashif Ashfaq said while talking to a delegation of furniture manufacturers. The PFC has already managed to cut the imports by 25% through ‘targeted exhibitions’, he added.
The PFC will launch e-commerce units to explore targeted foreign markets, which is essential for doing business across the border more effectively, Mian Kashif said. Initially, the PFC would target a few countries, primarily the Middle East nations. “We cannot target the whole world so we have to focus on a few selected countries like Saudi Arabia,” he added.
In the furniture sector, the primary issue is raw material availability and the cost of local wood is increasing because of its shortage, he said, adding the only option is to import wood.
Mian Kashif Ashfaq said that the PFC is calculating the price compatibility. If it becomes viable to directly import from any country, the PFC will present a complete plan to the Ministry of Commerce to seek some support in taxes. He shared that the PFC is also collaborating with some local manufacturers and with the Chinese counterparts under the China-Pakistan Economic Corridor (CPEC).
