FPCCI condemns propaganda against GSP+ status, terms it a ‘game changer’ for economy

KARACHI, Mar 27 (APP):Pakistan Federation of Chamber of Commerce and Industries (FPCCI) has termed the GSP+ scheme a “game changer” for the national economy, strongly condemning what it described as a negative propaganda campaign against the initiative on social media, and vowing not to allow any attempts to harm the country’s economic interests.
This was stated by Senior Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Saqib Fayyaz Magoon, while addressing a press conference at the Karachi Press Club on Friday.
He said that under the GSP+ scheme, Pakistan’s exports to the European Union have witnessed a significant increase of 108 percent over the past 10 years. He added that the extension of the GSP+ status in 2023 reflects Pakistan’s compliance with international laws, with both government institutions and the business community fully aligned with the European Union.
The FPCCI official noted that Pakistan has ensured implementation of 27 international conventions, including those related to human rights and labour laws. “We have won the battle of truth under the command of our Field Marshal Syed Asim Munir, and now we must win the battle of economy,” he said, adding that the EU has become the largest global market for Pakistani products due to the GSP+ facility.
Referring to recent national developments, he said that just as the country had succeeded in the “Ma’arka e Haq,” the government and business community must now jointly succeed in strengthening the economy.
Magoon highlighted that duty-free access for textile, leather, and surgical products would generate billions of dollars in foreign exchange, while also creating hundreds of thousands of new jobs in the country. Trade between Pakistan and European countries, he said, has grown from €6.9 billion in 2013 to over €12.2 billion.
He stressed the need to reduce industrial costs to further enhance export volumes between Pakistan and the EU, calling for a reduction in interest rates and electricity prices. He reaffirmed that FPCCI stands shoulder-to-shoulder with the government in this regard.
Magoon described the GSP+ status as the “lifeline” of Pakistan’s economy, emphasizing that it was secured through strict compliance with all required regulations. He reiterated that any efforts aimed at undermining this status would be foiled.
The business community, he said, strongly condemns the ongoing social media propaganda regarding GSP+, warning that no one would be allowed to conspire on such a sensitive issue. He added that the government and business sector are responsibly ensuring compliance with all requirements tied to the scheme.
He further pointed out that Pakistan secured an extension of the GSP+ status until 2027 in 2023, which demonstrates adherence to all conditions. The FPCCI official urged the government to facilitate exporters in order to achieve the $100 billion export target by 2030, as announced by Prime Minister Shehbaz Sharif, adding that the business community would continue to fully support the government in this effort.