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GSP-Plus status to improve Pakistan’s exports by 9.5pc

GSP-Plus status to improve Pakistan’s exports by 9.5pc

LAHORE: Governor Punjab Chaudhry Mohammad Sarwar on Saturday extended gratitude towards a European Union (EU) Parliament delegation led by its vice president for extending the Generalized Scheme of Preferences Plus (GSP+) status for the country.

“We are thankful for your support in extending GSP plus status for the country,” Chaudhry Sarwar was quoted as saying during a meeting with the EU delegation at Governor House.

“Extension of the status demonstrates confidence on the economic policies introduced by Prime Minister Imran Khan,” the governor said adding that it would allow the country to improve its exports by 9.5 percent.

He said that despite all efforts from India, Pakistan was able to get extension in the GSP-Plus status. “We are committed to strengthen the country’s economy as per the vision of the prime minister,” he said and added that the GSP Plus status was a gift for the country’s economy.

It is pertinent to mention here that Adviser to Prime Minister on Commerce, Industry and Investment Abdul Razak Dawood on Friday announced that Pakistan would continue to enjoy tariff preferences in European Union (EU) under Generalized Scheme of Preferences-Plus (GSP+) status.

He made this announcement in a post on micro-blogging site-Twitter and thanked the European Union institutions for allowing the country to avail from the status.

The adviser also applauded federal and provincial authorities, ministry of commerce’s treaty implementation cell for striving hard to meet the GSP plus obligations.

“This would strengthen our resolve to continue to improve the social and economic conditions of our people. I urge the business community to diversify their exports to capitalise on this opportunity to the optimum.”

On February 17, the GSP-Plus status given to Pakistan has come under discussion at the European Parliament on Monday as it reviews the country’s request to extend the facility.