KARACHI, Aug 25: Carpet manufacturers from India and China will display their products at the forthcoming “Regional Hand-knotted Carpet Exhibition 2005” being held at Karachi Expo Centre from August 28-30.

Pakistan Carpet Manufacturers and Exporters Association (PCMEA) Abdul Ghafoor Sajid told a press conference on Thursday that 60 stalls had been booked by carpet manufactures, which include 12 Indian and two Chinese stalls. “Over 60 foreign buyers from US, Germany, South Africa, China, France, Italy and Japan have confirmed their participation,” he added.

He said that carpet exports during 2004-05 jumped to $283 million and the holding of carpet fair in Lahore was the major factor for this surge. He urged the government to set up a Carpet Development Board with representation from the industry to resolve the issues confronting the carpet industry.

“Carpet industry is fashion-oriented and needs a lot of research work which cannot be undertaken without the government assistance,” he remarked.

He demanded of the government to reduce the interest rate on export finance from 9 per cent to three per cent to boost the exports.