LAHORE - The value-added textile sector as suggested the upcoming government of the Pakistan Muslim League-Nawaz (PML-N) that getting Generalized System of Preferences Plus status for Pakistan should be its top priority, as it will help strengthen the country economically.
The industry circles demanded the new government to hire competent lawyers to plead Pakistan’s case in the European Union (EU) for Generalized System of Preferences, as Pakistan would get the status once the legal formalities are completed. Now the ball is in the court of Pakistan to effectively negotiate with EU to obtain GSP plus in 2014, they said and added that it is unfortunate that we still have to submit at least five more progress reports for our application to be processed by the EU.
“These reports relate to human rights, racial biasness, gender discrimination, covenants on civil, political, economic, social and cultural rights and the human rights ministry (which currently falls under the ministry of Law) is dragging its feet and the matter is being delayed unnecessarily.”
They said that the foreign team of lawyers, hired by the previous government, would need these reports to fight our GSP case effectively. They have already been paid a hefty fee out of the export development fund, he added.
They apprised that EU is the largest trading partner of Pakistan with an annual trade volume of over 10 billion euros. They said that Pakistan already attached great importance to its relationship with the EU regional block as its annual GDP accounts $17 trillion which was higher than GDP of US which is around $ 15 trillion and China’s GDP of $ 7 trillion. They said that EU is also considering signing of a FTA with India, therefore, EU should also grant GSP plus status to Pakistan before such arrangements which would improve the bilateral trade volume.
The Pakistan Readymade Garments Manufacturers and Exporters Association Central Chairman Sajid Salim, while felicitating the PML-N leadership on victory in the elections, observed that obtaining GSP status is a challenge for the new govt, besides overcoming energy crisis and putting value-added textile industry on track by working on a war footing. He also expressed the hope that the new government would take energy shortage as a challenge, enabling the industry to perform at optimum level, besides attracting new investment and increasing exports.
The hopes are on very high notes and country has been in need of serious and talented leadership that can resolve energy crisis and trigger economic revival for a long time, he said.
