With a view to garner support for extension of GSP Plus status to Pakistan for another term of three years and to highlight the blatant violations of human rights in the Indian Occupied Kashmir by Modi-led BJP government at International forum, Governor Punjab Chaudhry Muhammad Sarwar has left for a highly important visit to the Europe.
While talking about the importance of extension in GSP Plus status for Pakistani goods in the European markets, the Governor said that Pakistan has fetched US$15 billion during the last five years due to preferential status.
GSP plus status has a significant contribution in the revival of Pakistani economy, which is a source of serious concern for India. The Indian lobby in Europe is desperately trying to thwart Pakistan's GSP Plus status," he added.
During his visit to Europe, the Governor will meet the members of the European Parliament, especially members of the committee for International Trade and Director General of trade to secure assistance in extension of GSP Plus status for Pakistan till 2023. Reportedly, the high-powered committee will decide whether to grant Pakistan extension in preferential status or otherwise.
The extension in GSP Plus status will go a long way in stabilizing Pakistan's economy, analysts said, adding: "Since the grant of GSP Plus status, Pakistan trade has extensively benefited from it."
The Governor further said that Pakistan will leave no stone unturned to highlight Indian atrocities in Kashmir. He said that international community must be sensitized about humanitarian crisis in the valley.
It may be noted that in December 2013, Pakistan acquired the GSP plus status from the European Union, granting member states duty-free access to 96-percent of Pakistani exports to the EU. Pakistan was the second country in all of South and Southeast Asia to receive the trade advantage, giving it a 10 to 14 percent duty advantage over major regional competitors including China, India, Vietnam, Thailand, and Indonesia.
Copyright Business Recorder, 2019
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