Business leaders reject negative campaign against Pakistan’s GSP+ status

ISLAMABAD: Pakistan’s business community on Friday rejected what it called negative propaganda against the country’s Generalised Scheme of Preferences Plus (GSP+) status and urged the government to take action against those seeking to undermine the trade facility.

Speaking at a press conference, United Business Group patron-in-chief SM Tanveer, alongside Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and All Pakistan Textile Mills Association (APTMA) representatives, said the GSP+ status was vital for Pakistan’s economy and must be preserved.

Pakistan secured the GSP+ status from 2024 to 2027, and its continuation should not be compromised, he said, adding that the trade concession had helped boost exports and economic growth.

Tanveer acknowledged ongoing economic challenges but said authorities were working to stabilise conditions, adding that more free trade agreements were needed to further increase exports.

APTMA Chairman Kamran Arshad highlighted that Pakistan’s exports have risen from less than $2 billion in 2013 to about $9.5 billion, crediting the GSP+ status for playing a key role in the growth.

Business leaders urged the government to ensure the protection of the GSP+ status in the national interest and called for continued consultation between authorities and taxpayers to create a stable economic environment.