Stakeholders on Sunday called on the Managing Director of the Punjab Small Industries Corporation to swiftly prepare a tailored loan scheme for the handmade carpet sector.
This demand was made in a meeting in Lahore, where they emphasized the importance of developing this plan in close collaboration with industry associations to ensure it effectively addresses the specific needs of the sector.
Additionally, participants advocated for the inclusion of other export-related associations in the scheme to maximize the benefits across all key sectors, reinforcing the comprehensive nature of this visionary initiative by the Punjab government.
“Punjab Chief Minister Maryam Nawaz has introduced the export and manufacturing sectors into the province’s Easy Business Scheme. This initiative, aimed at enhancing economic development and promoting exports,” said Ejaz-ur-Rehman, Chairperson of the Carpet Training Institute, during a meeting with local handmade carpet manufacturers and the Pakistan Carpet Manufacturers and Exporters Association.
Rehman in a statement today praised the Chief Minister’s economic strategy, which includes a directive to the Managing Director of the Punjab Small Industries Corporation to extend loan facilities under the new scheme to these vital sectors. This policy marks the first substantial support in decades aimed specifically at lifting export-oriented industries within the region. The anticipated impact of these measures is expected to be extensive and transformative.
Highlighting the historical context, Rehman recalled the 1970s and 1980s when the Punjab Small Industries Corporation established 83 Carpet Training and Production Centres across the province. These centers were crucial in developing skilled labor, propelling Pakistan’s handmade carpet exports to a peak of $250 million, and establishing a formidable presence in international markets. However, the sudden cessation of this program caused significant setbacks to the industry, with exports plummeting to just $86 million in recent years.
The recent directives from Chief Minister are perceived as a critical policy shift and a chance to rejuvenate the sector. The handmade carpet industry, predominantly a household cottage industry employing a large number of rural women, now looks towards these government-led initiatives for vital support.