• Tuesday, November 19, 2019

Pakistan formally receives GSP plus status from EU

Discussion in 'Pakistan Economy' started by cb4, Jan 1, 2014.

  1. cb4

    cb4 ELITE MEMBER

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    State Minister for Textile Industry Khurram Dastgir says Pakistan's exports will throng to 27 European markets from tomorrow.

    Pakistan has formally received in writing the grant of GSP plus status from the European Union.

    Addressing a news conference in Islamabad on Tuesday afternoon‚ Minister of State for Textile Industry Khurram Dastgir said Pakistan's exports will throng to twenty seven European markets from tomorrow.

    He said Pakistan's overall exports to these states will intially get twenty nine percent increase.

    He said the GSP plus scheme will be applicable until 2023. It will be reviewed after every two years and the first review will start in January 2016.

    The Minister said the government has made‚ "trade not aid"‚ a reality.

    To a question‚ Khurram Dastgir said gas is being given to export oriented industry and it is not necessary for the industry to be a member of All Pakistan Textile Mills Association.

    He said the government is working on energy projects for generation of 32‚500 megawatts of electricity to overcome power shortage in the country.

    Radio Pakistan-
    State Minister for Textile Industry Khurram Dastgir says Pakistan's exports will throng to 27 Europe
     
  2. telugodu

    telugodu BANNED

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    lets see what difference it makes to pakistan textile industry...
    Bangladesh may not like this...
     
  3. Pak_Sher

    Pak_Sher SENIOR MEMBER

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    Half the textile investment in Bangladesh over the last 5 years are from Pakistani Companies, so they should be OK. The reason being power outages in Pakistan, but things are improving now and the new status should help create employment opportunities.