Pakistan’s business community firmly dismissed the negative campaign targeting the country’s Generalised Scheme of Preferences Plus (GSP+) status during a press conference held on Friday in Islamabad. They called on the government to take decisive measures against those attempting to undermine this vital trade privilege.
United Business Group patron-in-chief SM Tanveer, accompanied by representatives from the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and the All Pakistan Textile Mills Association (APTMA), emphasized the critical importance of maintaining the GSP+ status for Pakistan’s economic wellbeing. Tanveer stressed that the status, secured for the period from 2024 to 2027, must not be jeopardized as it has significantly contributed to boosting exports and fostering economic growth.
While acknowledging the ongoing economic challenges facing the country, Tanveer expressed confidence in government efforts to stabilize the situation. He also highlighted the necessity of expanding free trade agreements to further enhance export potential.
In a notable statement, APTMA Chairman Kamran Arshad pointed out that Pakistan’s exports have surged from under $2 billion in 2013 to approximately $9.5 billion, attributing much of this growth to the benefits derived from the GSP+ status.
Business leaders collectively urged the government to safeguard the GSP+ status in the national interest. They also called for sustained dialogue between policymakers and taxpayers to foster a stable economic environment conducive to continued growth and export expansion.
