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Tag Archives: GSP-Plus

27 conditions for GSP Plus: Treaty Implementation Cell in Commerce Ministry lauded

ISLAMABAD: Presidential Candidate for Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Mian Muhammad Adrees, has lauded establishment of Treaty Implementation Cell (TIC) in the Ministry of Commerce. He hoped that withdrawal of moratorium on capital punishment will be no problem for Pakistan. In a statement, he said that GSP Plus is a big facility to Pakistani exporters to ... Read More »

Textile exports up to $1.1b, garments to $1.9b: GSP Plus fetches $909m during Jan-Sept

ISLAMABAD: At a time when overall exports have witnessed a decline, exports to European Union (EU) under the duty-free access increased to $5.7 billion during January-September, $909.1 million more than the corresponding period of last year. According to Federal Commerce Minister Engineer Khurram Dastgir, Pakistan exports increased by $910 million to EU under GSP Plus status during January-September. The government ... Read More »

$13b to $26b exports, 3m jobs creation target: Textile ministry to hold conference

ISLAMABAD: With the aim to create awareness among all stakeholders about GSP-Plus compliance and to boost export from $13 billion to $26 billion along with three million job creation target, the textile ministry has decided to organise conference in December. According to an official announcement, the biggest global buying chains would participate in the conference. It said that the conference ... Read More »

Textile ministry to hold conference to create awareness about GSP-Plus

ISLAMABAD: With the aim to create awareness among all stakeholders about GSP-Plus compliance, the textile ministry has decided to organise conference in December. According to an official announcement, the biggest global buying chains would participate in the conference. It said that the conference would focus on monitoring systems, brand collaboration, engagement and replication. The purpose is to bring together all ... Read More »

KCCI wants EU to help Pak exporters benefit from GSP Plus

KARACHI: President of the Karachi Chamber of Commerce and Industry (KCCI), Iftikhar Ahmed Vohra, has asked the European Union countries to assist Pakistan in improving its infrastructure so that a business environment could be provided to Pakistani exporters who are keen to raise their exports to EU, particularly after the grant of GSP Plus status. He said that in the ... Read More »

Govt urged to take measures for promotion of textile industry

MULTAN: The government should take serious initiatives for the promotion of textile goods in the world, said All Pakistan Bed Sheets and Upholstery Manufacturer Association President Khawaja Jalaluddin Roomi. Roomi said that Pakistani textile industry was unable to take advantage of GSP Plus facility due to a lack of inappropriate policies. Pakistani textile products have their significance in the world ... Read More »

Govt wants tax-to-GDP at 15pc, deficit down to 4.7pc: Dar

ISLAMABAD: Pakistani Constitution guarantees fundamental human rights and the present government attaches great importance to implementation of all relevant laws and regulations which safeguards these rights. Finance Minister Senator Mohammad Ishaq Dar stated this while talking to European Union Special Representative on Human Rights Stavros Lambrinidis and EU Ambassador Lanrs-Gunnar Wigemark who called on him here. On the occasion, the ... Read More »

Textile bodies fear massive gas outages

FAISALABAD: The national-level textile industry organisations rang alarm bells and feared massive closure of industries as a result of gas supply cut or reduction in the existing 33 percent gas quota for the textile sector in the upcoming months. Addressing a press conference held by the Pakistan Textile Exporters Association, All Pakistan Textile Mills Association, All Pakistan Textile Processing Mills ... Read More »

Govt trying to regain confidence of investors: Dastgir

Government would soon introduce multi-phased comprehensive plan to ensure national economical stability     SIALKOT: Federal Commerce Minister Khurram Dastgir Khan on Monday said the PML-N government’s economical policies were helping in restoring the confidence of the national and foreign investors. He also reaffirmed to complete the past economical development agenda of the PML-N. GSP Plus status given to Pakistan ... Read More »

Exporters show no mercy towards Kinnow growers

ISLAMABAD: Director Harvest Tradings Ahmed Jawad said it is unfortunate that growers, the real stakeholders of this industry are not given the proper price of their produce and every year they are dependent on exporters’ mercy. Speaking at a seminar he said besides, the cost of inputs, especially fertilizers and pesticides, is unpredictable. High cost of electricity with heavy loadshedding ... Read More »

GSP Plus opens new avenues for economic stability: President

BAHAWALPUR: President Mamnoon Hussain has said that the concept of trade instead of aid after achieving the status of GSP Plus has opened new avenues for economic stability of the country. Addressing the 7th convocation of Islamia University here on Friday, he said President Mamnoon Hussain said that government is trying its best to overcome energy crises and the appreciation ... Read More »

Textile exporters press govt for early tax refund

PTEA chairman says textile exports are crumbling and industry and business are squeezing due to non-availability of funds and energy   FAISALABAD: The Pakistan Textile Exporters Association (PTEA) has urged the government to expedite the process of paying billions of rupees outstanding tax refunds for maximum industrial growth and significant increase in exports. PTEA Chairman Sohail Pasha and Vice Chairman ... Read More »

Commerce Ministry striving to turn GSP Plus into FTA

ISLAMABAD: The Ministry of Commerce is making preparations to move a step forward by transforming the GSP Plus status into free trade agreement (FTA) with the European Union. In all, 406 members of the European Parliament supported the move at a session in Brussels on December 12, 2013 and granted GSP-Plus status to Pakistan on December 12 last year. It ... Read More »

Govt urged to reap benefits of GSP Plus status

SIALKOT: The Sialkot Dry Port Trust (SDPT) chairman has urged the government ensure early implementation of the rules and regulations to protect environment, eradicate child labour and eliminate corruption under GSP Plus status granted by the European Union (EU) to reap full benefits of the status. Addressing an awareness seminar here, he said that early implementation of GSP Plus rules ... Read More »

KSE gains 9.32 points to close at 30,474 mark

KARACHI: Karachi Stock Exchange remained flat on Thursday as KSE-100 Index gained just 9.32 points to close at 30,474.75 as compared to 30,465.43 of previous session. KSE-Allshare index grew by 50.30 points or 0.23 percent to stop the session at 22365.87 points, KSE-30 index shed by 6.53 points or 0.03 percent to close the day at 21193.80 points while KMI-30 ... Read More »

Ministry’s interference causes blockage of refund claims

LAHORE: While demanding the government to release stuck-up refund claims, the Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA) has said that FBR’s software system of RCPS is very excellent which completes refund process system within one month but finance ministry’s undue interference causes blockage of refund claims to the exporters, as presently more than 80 per cent textile exporters ... Read More »

July-May: Textile exports up 5.96pc to $12.6b

ISLAMABAD: Exports of textile and clothing products witnessed an increase of 5.96 per cent in July-May 2014 from a year ago, mainly owing to a slight increase in export of value-added products. The export value of such products surged to $12.626 billion in the first 11 months of the outgoing fiscal year against $11.916 billion over the corresponding period of ... Read More »

Chairman TDAP urged to restore facility of freight subsidy

LAHORE: Pakistan Industrial & Traders Associations Front (PIAF) has presented a 5-point facilitation agenda aimed at getting full advantage of GSP Plus status to Pakistan by the European Union. The 5-point agenda was presented by the Chairman PIAF Malik Tahir Javed while addressing a meeting of export related Standing Committee. Chairman PIAF said that GSP Plus Status to Pakistan by ... Read More »

Prudent policies boost exports significantly

ISLAMABAD: What is being attributed to the prudent policies of the incumbent government, export of the country increased significantly during the period July-March 2013-14. As a result of government steps, the textile exports increased by 8% generally, while exports in all value added categories showed higher increased i.e. bed wear by 21%, hosiery by 10% and readymade garments by 9%. ... Read More »

Pak, EU agree to strengthen bilateral trade ties

ISLAMABAD: Pakistan and European Union agreed on a comprehensive economic partnership, with a focus on increasing the volume of bilateral trade. This understanding was reached in the fifth meeting of the EU-Pakistan Joint Commission, which was held here in Islamabad. The next meeting will be held in Brussels in 2015 with a focus to make further progress on economic partnership. ... Read More »