In a statement here on Saturday before his departure for London – the first official visit to the UK since assuming powers as prime minister in June last, Raja Pervez Ashraf stated that the visit would provide an opportunity to reiterate Pakistan’s interest for inclusion in the GSP Plus in 2014.—File Photo

ISLAMABAD: Prime Minister Raja Pervez Ashraf has emphasised the need for sustained efforts to achieve the target set under Pakistan-UK Trade and Investment Roadmap to raise the level of trade to 2.5 billion pounds by 2015.

In a statement here on Saturday before his departure for London – the first official visit to the UK since assuming powers as prime minister in June last, Raja Pervez Ashraf stated that the visit would provide an opportunity to reiterate Pakistan’s interest for inclusion in the GSP Plus in 2014.

The visit will further enhance existing friendly relations between the UK and Pakistan, he said.

UK is the second largest trading partner of Pakistan in the European Union. The bilateral trade reached the 2.9 billion pound ($2.99 billion) mark in 2012, with the balance of trade in favour of Pakistan.

According to the Department for International Development (DFID), the British aid to Pakistan could more than double, averaging 350 million pounds a year until 2015, to become the UK’s largest recipient of aid.

However, this increase in UK aid is dependent on securing value for money and results, and linked to the government’s own progress on reform at both the federal and provincial levels.

This includes taking steps to build a more dynamic economy, strengthen country’s tax base and tackle corruption.

According to the latest DFID anti-corruption strategy for Pakistan approved last month, DFID will continue to ensure integrity and value for money through the ‘standard controls and measures in place to protect UK aid.

Over the next three years, DFID will support the government in tackling corruption through building political commitment to increase accountability by supporting the Public Accounts Committee and the Election Commission; supporting better access to information and transparency; improving public financial management’ identifying and supporting initiatives outside government that strengthen the voice of citizens in reporting concerns and demanding action on corruption; and supporting the international community’s work to coordinate approaches to corruption.

The prime minister said that during his five-day stay in London, he would hold bilateral meeting with Prime Minister David Cameron to discuss issues of mutual interest.

The meeting will provide an opportunity to identify ways and means to further raise the level of bilateral cooperation and discuss important regional and international issues, he said.

Under the new UK Operational Plan for Pakistan (2011-2015), almost £1.4 billion has been allocated for Pakistan, primarily in the education sector.

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Border clashes
19 May, 2024

Border clashes

THE Pakistan-Afghanistan frontier has witnessed another series of flare-ups, this time in the Kurram tribal district...
Penalising the dutiful
19 May, 2024

Penalising the dutiful

DOES the government feel no remorse in burdening honest citizens with the cost of its own ineptitude? With the ...
Students in Kyrgyzstan
Updated 19 May, 2024

Students in Kyrgyzstan

The govt ought to take a direct approach comprising convincing communication with the students and Kyrgyz authorities.
Ominous demands
Updated 18 May, 2024

Ominous demands

The federal government needs to boost its revenues to reduce future borrowing and pay back its existing debt.
Property leaks
18 May, 2024

Property leaks

THE leaked Dubai property data reported on by media organisations around the world earlier this week seems to have...
Heat warnings
18 May, 2024

Heat warnings

STARTING next week, the country must brace for brutal heatwaves. The NDMA warns of severe conditions with...