ISLAMABAD: Pakistan can enhance its annual furniture exports up to $5 billion within a decade if the industry is provided business-friendly environment, says Pakistan Furniture Council (PFC).
“If the government extends its support to furniture industry, the volume of exports can touch $5 billion in 10 years,” Mian Kashif Ashfaq, Chief Executive Officer (CEO) of PFC, told WealthPK.
Kashif said that unfortunately, the furniture sector in Pakistan has never been given due importance and attention in the past.
“The real potential of furniture industry has never been realised,” he said.
The PFC CEO said furniture sector could be an asset for the country in terms of earning revenue through exports besides creating job opportunities. He was of the view that despite having a history of craftsmanship and innovation in the field of wooden furniture, Pakistan’s share in the international wooden furniture market is very low.
Kashif said the demand for classic-style wooden furniture was rising in the international market.
“The wooden furniture industry represents 95% of the total market in the country,” Kashif said, adding that Pakistan should exploit the demand.
He said the exports of Pakistan’s furniture products stood at Rs500 million during current fiscal year which is far below than country’s actual potential. He said the government must consider a few steps like exempting import of raw material from duties, tax relaxation and provision of basic facilities required for furniture industry.
He said the government should ensure the availability of raw material used in making furniture products in the country besides providing tax exemptions on those items.
“In fact, the furniture sector direly needs a package of incentives and facilitation for enhancing exports,” he added.
The PFC CEO further said that there was an urgent need to explore the international market for Pakistan’s furniture exports.
“The US, Middle East and Africa are the possible potential markets for our products,” Kashif said, adding that with aggressive marketing strategy, the value of exports could be doubled in a short period.
The leading furniture-making areas of Pakistan are Chiniot, Gujrat, Peshawar, Lahore and Karachi. “In terms of exports, Karachi comes first, followed by Lahore and Peshawar,” he said.
The PFC CEO also urged the business community to work properly to enhance the exports of furniture products. He said that Pakistan has rich resources and people are equipped with the best of inherited skills that could help develop the furniture industry.
Kashif said the PFC was committed to supporting Pakistan’s young entrepreneurs associated with the furniture and interior designing sector. “People should be skilled enough to assess market trends,” he stated.
According to Trade Development Authority of Pakistan (TDAP), wooden furniture is speciality of Pakistan. Wooden furniture is mainly made of solid wood like sheesham, walnut, deodar, pine, oak and kikar. Pakistan furniture industry is over 250 years old and it has produced classic brands over the period of time.
The city of Gujrat in Punjab province is house to over 1,500 small, medium and large-scale manufacturing units.Furniture made in the city of Chiniot is famous for its distinctive style and hand-made geometrical pattern on wood. Annual global trade of wooden furniture stands at $80 billion, and Pakistan can get a good share if due attention is paid to this sector.
INP
