A meeting was organized between the delegations of State Bank of Pakistan (SBP) and Pakistan Carpet Manufacturers and Exporters Association (PCMEA) with the support of Trade Development Authority of Pakistan (TDAP) to understand the difficulties faced by the exporters of handmade carpets and their concerns.
The association was represented by Chairman NaeemKhokhar and Vice Chairman ZafarIdrisSoleja while Senior Vice Chairman Usman Ashraf, Senior Central Leader Abdul Latif Malik, Chairperson of Carpet Training Institute IjazurRahman, Senior Leader Riaz Ahmed, Saeed Khan and others joined via video link.
The association informed the State Bank about the demands regarding about provisions on penalties and deductions on payments made after 60 days by State Bank officials, restoration of special status of 270 days credit condition for handloom carpets and increase the delivery time limit of CAD shipment from 45 days to 60 days. It was further informed that unutilized advance payment also continued to be a problem whereas earlier the system allowed adjustment which has now been done away with.
The association also demanded that instructions should be issued to allow adjustment of these unutilized advances or permanently cancel their status as advances.—NNI
