Sarwar optimistic about GSP Plus extension
Punjab Governor Chaudhry Muhammad Sarwar has voiced hope that Pakistan will receive an extension in the GSP Plus status from the European Union for another 10 years.
Talking to a delegation of Pakistan Hosiery Manufacturers and Exporters Association (PHMA) on Tuesday, the governor assured the business community of providing full support as well as an enabling environment to enhance exports and create sustainable jobs to alleviate poverty in the country.
He recalled that during his visit to Europe, he held several meetings with members of the European parliament, which remained successful in all aspects.
On the occasion, PHMA Central Chairman Shahzad Azam Khan appreciated the efforts aimed at getting the extension in the GSP Plus scheme.
Besides apprising the governor of various issues related to the federal and provincial governments, he expressed concern over the withdrawal of textile policy on the back of misreporting by certain quarters.
He asked the government to reveal the reasons behind the withdrawal of policy because performance of the sector was outstanding and exports had risen 36% in the last fiscal year.
“Government should evolve a strategy to facilitate the business community to take full benefit of the GSP Plus scheme,” he emphasised. “The business community will cooperate with the government in implementing the existing and new EU conventions.”
He was positive that Sarwar’s recent visit to the European Union would yield encouraging results for Pakistan. According to him, all stakeholders of the industry should be invited to present proposals for drafting long-term sustainable policies.
He also proposed the government to set up a special task force comprising industry associations and the ministries concerned to design and implement growth initiatives for the industry.
Khan stressed that exports played an important role in the economic development of countries.
Moreover, he pointed out that the importance of small and medium enterprise (SME) sector could be gauged from the fact that it accounted for 40% of Pakistan’s gross domestic product (GDP).
Published in The Express Tribune, January 5th, 2022.
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