LAHORE:Pakistan Carpet Manufacturers and Exporters Association (PCMEA) on Friday expressed concern that fluctuations in dollar rate against rupee were hitting the country’s exports hard.
Exporters of hand woven carpets were reluctant to negotiate product deals with foreign buyers due to the fluctuating trend in the value of the dollar,the PCMEA Senior Vice Chairman Usman Ashraf, Senior Central Leader Abdul Latif Malik, Riaz Ahmed, Ijaz-u-Rahman,Kamran Razi,Saeed Khan and others told media here.
They urged the government and the State Bank to examine the factors of dollar fluctuations and take measures to keep it stable at one level so that the exporters could meet the commitments made with foreign buyers.
This tendency were affecting the exporters who were already selling their products at very low profit margins due to the global recession, they added.
PCMEA office-bearers said that due to increase in minimum wages, raw material prices and freight charges, they had already been out of competition with the competing countries, thus causing reduction in Pak exports.
They claimed that dollar was also fluctuating in the neighboring countries but its impact on their export deals was very low.
Pakistan was facing current account deficit and reduction in its exports would further hit the economy hard, they said and added that country needed to promote exports through viable business-friendly policies.