EU approval of GSP Plus to Pakistan greeted

Karachi: The Office Bearers of the Karachi Chamber of Commerce and Industry (KCCI) and the leadership of Businessmen Group (BMG), while hailing the EU parliament’s decision to approve GSP Plus status for Pakistan, extended deep gratitude to the Pakistani government for making efforts towards acquiring GSP Status, which has finally been granted. It is pertinent to mention that 406 parliamentarians expressed their support for Pakistan and the status has been granted till 2017.

In a statement issued, Chairman of Businessmen Group and Former President KCCI, Siraj Kassam Teli, President KCCI, Abdullah Zaki, Senior Vice President KCCI, Muffasar A. Malik, Vice President KCCI, Muhammad Idrees and Managing Committee members have welcomed the approval of GSP Plus status to Pakistan, which will certainly pave way for enhanced exports to Europe.

They said that it will give a boost to Pakistani exports by at least US$2 billion keeping in view the enormous demand of Pakistani products in the European markets but the Pakistani manufacturers and exporters must also focus on producing high-quality products according to European standards so that they could not only maintain their market share but take it to new heights.

They further advised the government to facilitate the business community, particularly the export-oriented industry by ensuring adequate infrastructure along with uninterrupted power supply so that the exporters could play their role in boosting Pakistan’s export to Europe which will certainly help in earning the much-needed foreign exchange for the country, besides efficiently dealing with the economic crisis.

President KCCI, while terming it a great achievement of the Nawaz government, said that the status will prove to be of great benefit to Pakistan’s textile manufacturers and exporters who will now have access to 27 European countries without having to pay duties.

Textile exports had been declining in Pakistan, as manufacturers and exporters were finding it hard to compete with Sri Lanka and Bangladesh who already had duty-free access to European markets, President KCCI said, adding that now the overall export situation will certainly improve.

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