Pakistan’s GSP-Plus status secure, Dawood assures

‘No decline in trade with Afghanistan following ongoing situation’

LAHORE: Advisor to Prime Minister on Commerce and Investment Abdul Razak Dawood on Saturday said that there is no need to be worried about the Generalised Preferential System-Plus (GSP-Plus) status by European Union (EU) as Pakistan is likely to get an extension in this regard.

He was talking to the media after inaugurating the Pakistan Footwear Designers Hub (PFDH), a joint initiative of Punjab Industries and Commerce Department, Pakistan Footwear Manufacturers Association (PFMA) and United Nations Industrial Development Organisation (UNIDO) here at Gulberg-III.

The advisor informed that he had held a meeting with the prime minister a few days back wherein it was decided to apply for another two year extension for the trade preference programme.

To a question, the PM’s advisor said that economic growth hinged on right and well-conceived trade and investment policies but unfortunately, in the past, Pakistan’s economic culture was import-centric.

“Even though Vietnamese and Bangladesh’s shoe exports surpassed Pakistan’s, let me give you an example of mobile phones which were completely imported from other countries until a few years ago but now for the first time in Pakistan’s history, we are manufacturing and exporting mobile phones and last month, some 5,000 to 10,000 mobile phones were exported which only became possible only because of prudent and viable economic policies of the present government,” he said.

He added that the government is also fonrmulating policies for the shoe industry on the same patter.

About Afghanistan, the advisor said that everybody knew the situation in the neighbouring country whereas Pakistan was hopeful of an early return of routine life there; however, it was a good omen that trade between the two countries was not affected and consignments were still entering Afghanistan through the Torkham Border.

In response to a query, he said that trade with India cannot not be started at this point in time. “Let us concentrate on our western border and once the western border is okay, we will focus on eastern border,” he added.

To a another question, he said that it was not only Pakistan that was hit by inflation and price hikes but the entire world was facing the same problem, and asserted that currently, commodity prices in the world had increased manifolds as prices of cement, steel and oil etc., in addition to containers’ charges and shipping costs were at an all-time high.

Dawood said the government was also focusing on the development of the agriculture sector and taking various measures to enhance crop yields, citing that Pakistan reaped bomber crops this year.

Regarding the International Monetary Fund’s (IMF) fresh tranche, he said that he had talked to Federal Finance Minister Shaukat Tarin. He said that negotiations with the Fund were underway and the matter is expected to be settled by September end.

Moreover, he said that shoe designing in Pakistan played a very important role in local and export production, and it was a good omen that Pakistani designers were designing footwear in collaboration with American shoes designers while energising the culture of Swat, Hunza and Multan.

“I appreciate the efforts of the Punjab government, PFMA and UNIDO for setting up the Pakistan Footwear Designers Hub as it will not only help enable our youth, both male and female, to gain new experiences in this field but also increase exports and local industrial shoe production,” he said.

He mentioned that the government has provided relief to the industry by reducing duties and taxes which would further be reduced for more grow and expansion.

He was of the view that local shoe designing would largely benefit the country’s Small and Medium Enterprises (SMEs) and also substantially decrease shoe import, assuring that Ministry of Commerce would extend full support in this regard.

Razak Dawood vowed that Pakistan would recapture lost global shoe markets.

2 COMMENTS

  1. Even Bangladesh is graduating out of GSP+ status in few years. Unfortunately, it’s a lifeline for Pakistan. GSP+ (Charity) is given to the most down trodden and that too is in danger thanks to iknomics.

  2. Enough of this incompetence and corruption. Abolish all political parties and time has come for Bajwa sir to lead the country into future.

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