The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Friday issued a strong condemnation of statements perceived as threats to Pakistan’s Generalised Scheme of Preferences Plus (GSP+) status with the European Union.
Business Leaders Voice Concerns
The FPCCI’s remarks followed criticism from government officials regarding comments made by Kasim Khan, son of former Prime Minister Imran Khan, and party leader Zulfi Bukhari during a United Nations Human Rights Council (UNHRC) event. Officials had bitterly criticised their participation, alleging an attempt to jeopardize the country’s GSP+ status.
However, a fact check by iVerify determined that claims Kasim Khan demanded the suspension of Pakistan’s GSP+ status at the UNHRC summit were false. FPCCI officials, including Vice Chairman Zaki Aijaz and United Business Group Patron-in-Chief S.M. Tanveer, addressed a press conference in Lahore to express their condemnation.
Economic Implications
Aijaz stated that protecting the GSP+ status is “a national responsibility” and warned that any actions against it could place “millions of Pakistanis and the country’s economy at risk.” He appealed for unity among stakeholders to safeguard Pakistan’s economic interests.
Tanveer emphasized the importance of the EU as Pakistan’s second most important trading partner, with a bilateral trade volume of up to $12 billion. He noted that 37 per cent of Pakistan’s total exports go to the EU.
Tanveer further highlighted that approximately three million families have gained employment since Pakistan received its GSP+ status in 2014. He asserted Pakistan’s compliance with labour laws, stating it is “better” than regional countries India and Bangladesh in this regard.
The GSP+ status, described by Tanveer as the “jugular vein” for Pakistan’s exports, is reviewed every two years, and Pakistan has consistently qualified for it.
Frequently Asked Questions
What is the GSP+ status?
The GSP+ status is a preferential trade arrangement with the European Union that provides duty-free access to the EU market, linked to compliance with international conventions.
Who criticized Kasim Khan and Zulfi Bukhari?
Government officials criticized Kasim Khan and Zulfi Bukhari for allegedly attempting to derail Pakistan’s GSP+ status following a speech at the UNHRC.
What did the fact check reveal?
According to a fact check by iVerify, the claim that Kasim Khan demanded the suspension of Pakistan’s GSP+ status at the UNHRC summit was found to be false.
As Pakistan continues to navigate its economic relationship with the EU, will the focus remain on maintaining compliance with the necessary international conventions to retain its crucial GSP+ status?
