Protests at export finance rates increase
04/11/2009
The acting chairman of the Pakistan Tanners Association, Shahid Mahmud, acting has vehemently opposed an increase of 0.5% in export finance rates that the State Bank of Pakistan announced on October 31. Mr Shahid said the move would hit the leather industry hard.
He explained that the leather industry in Pakistan is already facing problems because of a slowdown in the international and domestic economies, and problems with the availability and high cost of energy.
He urged the government to withdraw the decision of the State Bank of Pakistan to help the leather industry arrest the decline trend in exports it has beene experiencing.
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