Pakistan’s Generalised System of Preferences (GSP+) is seems to be in danger of Loss as India, Bangladesh, Turkey and some other states are lobbying against Pakistan and pushing the EU to withdraw the GSP+ facility from Pakistan.
Moreover, Owing to shift in the European Union (EU) policy and sanctions imposed by Islamabad on international non-governmental organizations (INGOs), may resulting the withdrawal of Pakistan’s GSP+ status. According to senior official of the federal government, EU has written a letter to Pakistan and warned that this time circumstances are not favorable for Pakistan.
The European Union (EU) granted GSP+ status to Pakistan in December 2013, with 406 votes. Pakistan qualified for GSP+ by being a low middle-income country, having a non-diversified economy, and by contributing less than 2.0% to EU’s GSP imports from all the GSP beneficiaries. The GSP+ status was only granted once Pakistan agreed to implement 27 international conventions on human rights, the environment and good governance.
The GSP Plus status allows almost 20 per cent of Pakistani exports to enter the EU market at zero tariff and 70 per cent at preferential rates. According to Punjab Governor Chaudhry Muhammad Sarwar, Pakistan has earned $15 billion due to the GSP Plus since 2013.
Your email address will not be published. Required fields are marked *
18 July, 2019