2 weeks Ago By NEWS WIRE
LAHORE - Chairperson of the Carpet Training Institute (CTI), Ijazur Rehman has urged that instead of being satisfied on US tariff reprieve, it is high time for government and the State Bank of Pakistan to come up with astute contingency plan and comprehensive strategy to deal with the US tariff ramification on Pakistani hand-woven carpet industry. He made these remarks in urgent meeting, held to assess the consequences of the temporary suspension of tariffs and the implementation of a 10% uniform baseline duty effective from April 5, highlighted the potential challenges for Pakistan’s hand-woven carpet industry. Rehman warned that the imposition of the US tariffs could significantly hamper the export of hand-woven carpets, a vital contributor to the nation’s economy.
“Pakistan is not in a favourable position compared to India and other countries, which are also grappling with additional duties despite facing the same 10% baseline duty,” he noted. Rehman urged the government to promptly evaluate the effects of these tariffs and identify opportunities arising from the new US trade policy. IHC to resume hearing in Bushra Bibi’s petition seeking improved jail facilities He specifically pressed hard on the State Bank of Pakistan to form a commission to engage with stakeholders and develop a strategic plan to mitigate the adverse effects on the carpet industry.
Rehman emphasized the importance of including all affected stakeholders in the policy-making process to ensure the formulation of an effective strategy that safeguards national interests. The meeting underscored the urgency of taking proactive measures to navigate the evolving trade landscape and protect one of Pakistan’s key export industries. Tags: cti contingency plan.
