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Tag Archives: GSP Plus status

3.52 billion ‘dangrous’ polyethylene bags used: PJMA seeks more use of environment-friendly jute bags

jute-bags-300x182

KARACHI: After obtaining the GSP Plus status the government is bound to take steps to reduce the carbon footprints by replacing hazardous products with environment friendly substitutes like immediately replacing polypropylene bags with jute bags in all food grains including wheat. Muhammad Younus, Secretary of the Pakistan Jute Mills Association (PJMA), pointed out that by doing so the government would ... Read More »

 GSP-Plus status to Philippines: Exporters hope 12pc rapid progress in 2015  

13-april-ernst-young-survey-360

MANILA: After being given the (Generalized Scheme of Preferences Plus) GSP-Plus status the exporters of the Philippines hope for the rapid growth in next year which stands at 9.2 percent annually at present with $51.769 billion in the 10th month of this year. SEIPI said that it expects overseas sales of electronics — which make up more than half of ... Read More »

Khurram Dastgir: Exports to EU will cross $1.2b till end of 2014 due to GSP Plus status

662062-TextileEXPRESSRASHIDAJMERI-1390416061-335-640x480

KARACHI: The government has set $1 billion additional target to the country’s total exports to the EU, owing to the GSP Plus status since January 2014. However, the country’s exports to cross $1.2 billion till end of year 2014 as $900-million mark has already been achieved in the first nine months. Commerce Minister Khurram Dastgir Khan said this while talking ... Read More »

$1b additional target: Pakistan’s exports to cross $1.2b till end year 2014

textile exports

KARACHI: The government has set $1 billion additional target to the country’s total exports to the EU, owing to the GSP Plus status since January 2014. However, the country’s exports to cross $1.2 billion till end of year 2014 as $900-million mark has already been achieved in the first nine months. Commerce Minister Khurram Dastgir Khan said this while talking ... Read More »

Exports to EU up by $909.07m in 9 months: Lifting moratorium on death will not affect GSP Plus

textile-pakistan

ISLAMABAD: Federal Commerce Minister Khurram Dastgir Khan has said that the lifting moratorium on death penalty will not affect GSP Plus status granted by the European Union to Pakistan. Addressing a press conference, he said that European Union supported Pakistan in war against terror and there was no legal condition of imposing ban on death penalty under United Nations convention. ... Read More »

EU grants GSP-Plus status to Philippines

philippine-firm-5

MANILA: The European Union (EU) has included Philippines in its list of zero-tariff exports, according to business groups. The Philippines can now export 6,200 tariff lines, including processed fruit and foodstuffs, coconut oil, footwear, fish and textiles. The European Parliament granted the Philippines’ application for the Generalized Scheme of Preference Plus (GSP+), a trade tariff scheme for a 28-member bloc. ... Read More »

Exports to EU up by $909.07m in 9 months: Lifting moratorium on death will not affect GSP Plus

textile-pakistan

ISLAMABAD: Federal Commerce Minister Khurram Dastgir Khan has said that the lifting moratorium on death penalty will not affect GSP Plus status granted by the European Union to Pakistan. Addressing a press conference, he said that European Union supported Pakistan in war against terror and there was no legal condition of imposing ban on death penalty under United Nations convention. ... Read More »

Exports to EU up by $909.07m in 9 months: Lifting moratorium on death will not affect GSP Plus

Textile

ISLAMABAD: Federal Commerce Minister Khurram Dastgir Khan has said that the lifting moratorium on death penalty will not affect GSP Plus status granted by the European Union to Pakistan. Addressing a press conference, he said that European Union supported Pakistan in war against terror and there was no legal condition of imposing ban on death penalty under United Nations convention. ... Read More »

Exports up by 29%: Pakistan to tap GSP Plus Status with end to power crisis, says Governor

Governor Punjab

LAHORE: The textile industry would fully tap the GSP Plus status with the elimination of power crisis and terrorism from Pakistan, Punjab governor Ch Sarwar hoped. Speaking at APTMA House, the governor urged the Ministry of Water & Power to supply energy to the textile industry at affordable price on priority basis so as to get maximum benefit of the ... Read More »

Committee dragging feet: Govt in a fix over exempting textiles from gas outages

textile-industry

ISLAMABAD: The committee formed under the chair of Finance Minister Ishaq Dar to determined a mechanism for gas supply to textile sector remained indecisive and Petroleum Minister Shahid Khaqan Abbasi opposed the government proposed plan to supply gas to the sector. As per details, the committee, formed by Prime Minister Nawaz Sharif, comprising Water and Power Minister Khawaja Asif, Minister ... Read More »

Reviving the textile industry

Textile

Textile industry is the backbone of the national economy,contributing nearly one-fourth of the industrial value addition, 8 percent of the gross domestic product and 55 percent of the overall exports. At least 40 percent of the industrial workforce is associated with this industry, but declining trends in the export of cotton products call for the introduction of a new textile ... Read More »

Afridi tells NA cotton support price raised to Rs 3,000

National Assembly

ISLAMABAD: Federal Minister for Textile and Industry Abbas Khan Afridi told the National Assembly that the government had announced Rs 3,000 per 40-kg support price for cotton. During the question hours in the House, the minister informed that the Trading Corporation of Pakistan (TCP) had been directed to purchase cotton from the farmers at the rate of Rs 3,000 per ... Read More »

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

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 »

PTI sit-in: Dar warns against creating hurdles in investment

Dar conference

ISLAMABAD: Finance Minister Ishaq Dar, addressing the International Investment Conference, has said that no one would be allowed to create hurdles in investment in the country as the constitution, laws and governance structure protects foreign investment. Ishaq Dar strongly denounced the sit-in by Pakistan Tehreek-e-Insaf (PTI), and said that the government would not only meet the medium-term economic targets but ... Read More »

Trade deficit increases to $6.5billion as exports fall

import export

ISLAMABAD: The country’s declining exports has further increased trade deficit during the first quarter of current fiscal year. According to Pakistan Bureau of Statistics (PBS) data, as the gap between Pakistan’s exports and imports has been witnessed to $6.504 billion just from July to September this year as compare to last year’s $4.482 billion, with the growth of 45.11 per ... Read More »

GSP status boosts textile exports to $13.74b

GSP Plus

ISLAMABAD – Textile exports surged to $13.74 billion during previous financial year 2013-2014 mainly because of the GSP Plus status granted to Pakistan by the European Union (EU). The country exported textile made commodities worth $13.74 billion during last fiscal year (July 2013 to June 2014) as compared to $13.05 billion of the preceding year (July 2012 to June 2013), ... Read More »

Trade deficit eased to $19.98b in FY14

deficit

ISLAMABAD: The trade deficit remained at $19.98 billion during outgoing financial year 2013-14, as compared to $20.49 billion of a year ago, showing a decline of 2.48 percent. According to figures released by Pakistan Bureau of Statistics (PBS), exports slightly surpass the imports during last year that resulted in decline in trade deficit. The PBS data showed that exports have ... Read More »

GSP+ boosted textile exports in FY14

textile exports

LAHORE: Textile exports, amid all gloom and doom, showed encouraging growth of 3.9 percent year-on-year and reached $13.8 billion in fiscal year 2014 as against $13.3 billion during the corresponding period of last year. Most of the textile exports were to EU which surged by 18 percent on YoY and reached $5 billion in FY14. This was mainly due to ... Read More »

Compliance with EU conventions underlined to reap GSP+ benefits

EU

LAHORE: The experts have warned the government, the industry and other stakeholders to ensure compliance with 27 Conventions for continuation of free market access to EU countries under GSP plus status, as Sri Lanka lost the status in 2010 owing to its failure to comply with the Conventions related to human and labour rights. In its report, the Pakistan Business ... Read More »

LCCI delegates in EU to dig GSP+ potential

LCCI

LAHORE: For the collective benefit of the business community and to tap EU potential of the GSP Plus status, the Lahore Chamber of Commerce and Industry delegation is presently on a visit to Europe where a number of MoUs have been signed to market Pakistani merchandise in all 27 member countries of the European Union. According to Acting LCCI President ... Read More »