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Friday, December 13, 2013

Pakistan Given GSP Plus Status By European Parliament

In the European Parliament 406 members out of 588 favored GSP Plus status for Pakistan and by which no duty will be imposed on Pakistani Textile Products in the European Market. By which the textile industry in Pakistan will earn $100 billion dollars profit. Prime Mister said GSP Plus status expresses the confidence of international markets on the high standard of Pakistani products. He said with this Pakistan's economy will boost up. He said this we wanted "trade insted of aid". Pakistani products will have access to European markets. Priorly, Bangladesh was preferred in comparison to Pakistan in the regional markets but now Pakistan is included in the same row. However, Balgharia, France, Purtegal , Poland and Belgium were against giving of this status to Pakistan. However, Pakistan's friends and foreign embassies of Pakistan played their positive role in this regard. Pakistani government that acts before thinking, is celebrating the joys of GSP Plus status with out thinking that how would it acheive the textile and other industrial products' targets of foreign businessmen with load shedding of gas and electricity while textile industries are going to shut down and thousands of workers are being unemployed.

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