Pakistan is a big country with more than 242 million and has one of the youngest populations in the world. Therefore, a lot of offices are working around which need office furniture. It varies in price. Materials, and price materials. In January 2019, SECP registered 1,317 new companies, representing a 9 percent increase over the same month the previous year. During the month of January, the Securities and Exchange Commission of Pakistan (SECP) registered a total of 1,317 new companies, bringing the total number of registered companies in Pakistan up to 95,000. This is symbolic of the consistent growth that Pakistan has been experiencing in the number of registered companies over the past decade and represents an impressive growth of 9 percent compared to the same month in the previous year. At this point in time, approximately 73 percent of companies were registered as private limited companies, while approximately 24 percent of companies were registered as single-member companies. The remaining three percent was made up of public companies that were not listed on any exchange, non-profit associations, foreign companies, and limited liability partnerships (LLP). In terms of industry, the trading industry is in the lead with the incorporation of 214 companies, followed by the construction industry with 185, the information technology industry with 128, the tourism industry with 74, the food and beverage industry with 43, education, marketing, and advertising, and real estate development with 42 each, the transport industry with 40, corporate agricultural farming with 37, engineering with 30, communication with 24, the textile industry with 19, mining and quarrying with 18, broadcasting and telco with 18. Compared to the previous year's total of 55, a total of 61 businesses have been successful in attracting overseas capital. The list of countries that participate in investing includes prominent nations such as China, Germany, Japan, the United Kingdom, and the United States of America. The city of Islamabad has seen the registration of the highest number of businesses, with 477, followed by Lahore (346), and then Karachi. Reforms introduced by the SECP can be credited with contributing to this phenomenal growth. These reforms include a simplified and streamlined process for reservation of name and incorporation, reduced fees, and assistance provided by contract research organizations. Moreover, the SECP has also streamlined the process for reserving names. With this large number of companies and offices in Pakistan, this country is one of the leading importers in the world. On the other hand, Pakistan is one of the best producers of office furniture. Pakistan is widely regarded as one of the world's leading producers of office furniture. As of 2014, the Pakistani office furniture industry had experienced phenomenal expansion. According to the data that is maintained by the Pakistan Bureau of Statistics, the amount of office furniture that was exported grew by 16.31 percent in the span of one year between July 2013 and July 2014. (PBS). In July 2014, Pakistan made $0.770 million from the sale of office furniture abroad, which is an increase from the amount of $0.662 million earned in July 2013. In addition to that, the amount of office furniture that was exported saw an 8.30 percent increase in July of 2014. The Pakistani office furniture industry has significant potential in many countries, including the United Kingdom, the United States of America, Sri Lanka, and the Gulf states; however, Pakistan has been unable to maintain a significant portion of its market share due to a lack of contemporary technology and resources. The local office furniture industry has the potential to add massively to the national exchequer, and it can make a great contribution of billions of dollars from annual exports. The government supported the office furniture industry in the appropriate manner, office furniture shipments would increase. According to Aziz, the value of annual textile exports is currently estimated to be $14 billion. Rice is Pakistan's second most valuable export good, bringing in a total of $2 billion for the country's treasury each and every year. He stated that if the government paid adequate attention to the office furniture industry over the next five years, the value of exports would increase from $51 million to $5 billion, which would be a significant increase. He suggested that the government initiate programs develop and promote the office furniture sector in both rural and urban areas. These programs would be run by the government. In addition to this, he placed a strong emphasis on the utilization of contemporary methods, which not only boost productivity and creativity but also cultivate the skills of laborers, allowing us to fulfill and compete with the requirements of both global and local markets. Office furniture and Interior office furniture products with calligraphic engravings had a great demand in both local and international markets. Pakistan had represented at the International Fair for Office furniture and Interior. He stated that Pakistani office furniture was a little more expensive when compared to the machine-made office furniture items that were produced in a variety of other countries. This was said to be the case because Pakistani office furniture was hand-made. He stated that the majority of countries have a significant demand for Pakistani office furniture because residents of other countries enjoy the traditional hand-carved office furniture designs that are common in Pakistan. In addition to this, he emphasized the significance of Pakistan's participation in international office furniture shows in order to advance the country's office furniture industry. Over the course of the past few years, the Pakistan office furniture industry has made significant advancements. Office furniture manufacturers and interior designers have established benchmarks that have attracted customers from other countries. This is because the interior decoration industry is expanding, which has created employment opportunities for skilled workers. In order to increase their earnings in foreign currency, he suggested that Pakistani craftsmen should concentrate their efforts on working in this particular area. In addition to this, he expressed his gratitude to PFC for its role in the introduction of cutting-edge manufacturing processes into the Pakistani office furniture industry. These techniques enable local office furniture brands to produce cutting-edge goods of the highest quality. He stated that the PFC was planning to devise strategies to increase office furniture exports and that they aimed to achieve the milestone of $850 million in exports by the end of 2017 if the government starts establishing training centers for skilled labor, and launches women’s development schemes, and introduces high-tech machinery. In addition, he stated that the PFC was planning to achieve the goal of achieving the milestone of $850 million in exports by the end of 2017. The office furniture industry of Pakistan has great potential and talent, but we need to polish our skills in order to become one of the largest exporters of office furniture. Despite the fact that the office furniture industry of Pakistan has great potential and talent, we need to polish our skills. If demand is high in Pakistan, then raw materials will be more expensive. The increased demand for home improvement products from the general public put stress on manufacturers. Furthermore, delays occurred as a result of staff shortages brought on by millions of layoffs and furloughs caused by the shutdown. More money was being spent by manufacturers to make their workplaces safer for employees. Staff illness frequently resulted in unscheduled downtime for cleaning. When these roadblocks were put in place, they sent shockwaves through the industry and drove up prices everywhere.
💰 Tenfold your income 💎