Furniture Entrepreneurs Demand Tax Exemption To Promote Industry

ISLAMABAD, (UrduPoint / Pakistan Point News - 24th Jun, 2018 ) :Pakistan Furniture Council (PFC) Sunday urged the Federal government to declare furniture industry tax free sector till 2025 as this could give a major boost to furniture exports in the country besides making furniture industry risk free and generating new jobs and stimulating local business simultaneously.

In a statement PFC Chief executive Mian Kashif Ashfaq urged the government for introducing a skill development programme for the export-oriented furniture industry with a view to promote the country's value added sector.

The tax exempted furniture sector in Pakistan will enliven the economy in general. New jobs will be created and production levels will increase, making economy actors happy and rebound in the economy could be seen, he remarked.

He also demanded the government to impose ban on import of furniture items to fully exploit the potential of the local industry which would not only accelerate the pace of economic activities but also helpful to save a major chunk of the foreign exchange.

He also urged the government for patronizing the local industry by discouraging import of furniture items. Rather, he said, the government should announce a package of incentives to local manufacturers so that they could enhance the volume of their export items to gain their significant share in international market. The variety and traditional expertise of woodworkers and craftsmen has a huge potential for exports, and can cater not only to local market but also to the wealthy looking for unique furniture items at international market, he added.

He said prices of all raw materials used in making furniture which include chipboard, timber, foam, polish chemical materials, color paints and hard ware have increased. Timber production on the other hand has gone down drastically because of unchecked deforestation, he added.

Mian Kashif said a well established furniture industry would create foreign exchange, skilled work force, create potential job and above all make Pakistan furniture industry as a globally recognized leader.