Many GSP Plus areas still untapped
GSP Plus status is crucial for the financial interests of Pakistan. FILE PHOTO
The head of the visiting European Union’s Generalised Scheme of Preferences (GSP) Plus monitoring mission, Guido Dolara, has said that the time is crucial for Pakistan which has to show tangible results by October as a draft report for the GSP Plus status will be prepared by that month.
Dolara made the remarks while talking to Lahore Chamber of Commerce and Industry (LCCI) President Mian Nauman Kabir and members of the business body.
“Pakistan is a large beneficiary of the GSP Plus. However, there are many areas where the potential is still untapped,” he said.
LCCI could play an important role in helping the SME sector to realise the potential of GSP Plus, he said.
“We are close to finalising the monetary report. It will be completed by October,” he said, adding that the current GSP Plus facility would expire in December 2023.
The rules for the next GSP scheme were being debated by the legislators. The beneficiary countries would have to re-apply for the scheme and the past record of compliance with different conventions would be given due weightage, he told the businessmen.
Published in The Express Tribune, June 25th, 2022.
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