ISLAMABAD: Commerce and Textile Minister Pervaiz Malik on Friday hinted a positive outcome of the review and rollover of Generalised System of Preferences Plus (GSP+) scheme for another three-year term.

The minister informed Prime Minister Shahid Khaqan Abbasi about this development, who was chairing a meeting to review the efforts for continuation of GSP+ status for Pakistan beyond 2018.

According to an official statement the meeting was briefed regarding Pakistan’s compliance with the requirements of GSP+. It was informed that periodical review report by Pakistan had already been submitted and examined by the European Union.

The ministry expects the report of the review to be released in a day or two.

The GSP+ scheme was in operation since January 2014 and will remain available for the next 10 years. It was also informed that over the past five years, exports to the European Union have registered 45pc increase, while value-added textile products jumped 88pc.

Mr Abbasi directed the commerce division and relevant foreign missions abroad to maintain a focused approach towards ensuring the continuation of GSP+ status and take all necessary measures to maintain a growth-oriented trend.

Published in Dawn, January 20th, 2018