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'900 Pakistan textile items gain duty-free access to EU'
31
Dec '13
With Pakistan winning the Generalized System of Preference Plus (GSP+) status from the European Union (EU), around 900 textile items have been qualified for duty-free access to the EU markets, said Mirza Ikhtiar Baig, chairman of Pakistan Denim Manufacturers and Exporters Association (PDMEA). 
 
Addressing a ceremony organized to acknowledge role played by Punjab Governor Chaudhry Muhammad Sarwar in securing GSP+ status for Pakistan, which shall take effect from January 1, 2014, Mr. Baig said with GSP+ status, textile exports from Pakistan are expected to increase by atleast US$1 billion per annum.
 
The PDMEA official appreciated Prime Minister Nawaz Sharif’s decision of diverting 85 million mmcfd gas to textile industries from power sector.
 
Speaking at the occasion the Punjab Governor said to reap the benefits of the GSP+ status and thereby boost exports, Pakistan would first need to prepare for compliance with 27 EU conventions signed by the Government to avail the status. He added that if the country actually intends to reap the benefits of the GSP+ status, the Government needs to see to it that the energy utility prices remain low.
 
Further pointing at the gas unavailability issue that the textile industry of Punjab is facing over past three months, he said Prime Minister Nawaz Sharif has ensured to reinstate gas supply to factories and industrial units in the province.
 
Pakistan earned the GSP+ status from EU during mid-December 2013, with the European Parliament voting 409-182 in favour of granting the status to the country. 
 

Fibre2fashion News Desk - India

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