Pakistan to Remain on GSP+ Status: European Commission
Islamabad: According to news sources, the European Commission has opted to maintain Pakistan’s Generalized Scheme of Preference Plus (GSP+) status. The decision was taken contrary to the European Parliament’s resolution that asked for the country’s exclusion from the list.
The European Commission in Brussels said there are no strong grounds to eliminate Pakistan from the GSP+ status list; therefore, Pakistan would remain on the list until its next review in 2024.
In contrast, the EU Commission has added six new requirements for Pakistan to meet in order to remain in the category.
The panel argued for greater compliance with climate change legislation, the Paris Climate Agreement, enhanced accessibility for people with disabilities, and eradicating child labor.
The extension of Pakistan’s GSP+ status in 2014 has helped the country’s economy by absorbing 34% of its total exports.
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