GSP Plus scheme renewal appreciated

KARACHI: GSP Plus plays a catalytic role in boosting exports, owing to which Pakistan enjoyed full benefits in accessing the European markets, an official said on Wednesday.

Appreciating renewal of GSP Plus Scheme for another two years, Pakistan Readymade Garments Manufacturers and Exporters Association (Prgmea) Central Chairman Shaikh Mohammad Shafiq said that Pakistan’s exports to EU as a percentage of total exports increased to 34 percent in 2016 from 24 percent in 2013.

Under GSP Plus, Pakistani goods have duty-free access to 91 percent of the EU tariff lines, Shafiq said, adding that exports maintained upward trend, as the country exported goods worth 6.29 billion euros in 2016 as compared to 4.54 billion euros in 2013. Textile sector fetch 4.87 billion euros of the total exports for 2016 as compared to 3.14 billion euros of the 4.54 billion euros fetched in 2013, showing an increase of 54.8 percent.

“We have acquired these achievements due to serious efforts of federal Minister for Commerce and Textile Muhammad Pervaiz Malik, Minister of State for Commerce and Textile Haji Mohammad Akram Ansari, and federal Commerce Secretary Mohammad Younus Dagha,” he added.