faisalabad

GSP Plus has played a vital role in the restoration and strengthening of country’s economy, however, we have to fulfill the conditionalties of International Conventions and Protocols to avail from this facility on sustained and permanent basis, said Nadeem Allahwala, Senior Vice President, Faisalabad Chamber of Commerce & Industry.

Taking part in a penal discussion arranged by a private TV Cannel here today, he said that war against terror has inflicted a colossal loss to the national economy. EU realising the importance of Pakistan as front line country against war on terror, offered GSP Plus status to it from January, 2014. As a result Pakistan was allowed duty free exports to the EU member countries. He said that because of this facility, an appreciable increase of $1.47 billion was recorded during 2014. He said that this facility is linked with the implementation of 27 different Conventions and Protocols relating to environment, labour, women labour and other social compliances. He said that no doubt, implementation on these social compliances has increased our cost of doing business but it also has a salutary impact on our over all social environment.

Continuing, Nadeem Allahwala said that government has set a target of $1 billion additional exports every year while a Special Monitoring Cell has been created in the Ministry of Commerce to sensitise local industry to fulfill the international obligations. He said that FCCI has also arranged awareness sessions and seminars to give in depth knowledge to exporters about international conventions and protocols already ratified by Govt. of Pakistan. He said that our textile exports would be doubled if we simply availed this facility for the 10 consecutives years. He said that improved economic health of the country will also help govt. to bridge the import-export gap in addition to allocating more funds for the provision of basic amenities of life at the door steps of masses. He further said that up till now we are only concentrating on textile sector whereas the facility of GSP Plus is also available for other sectors and hence we should focus on other sectors also to give a quantum jump to our exports.