GSP Plus status vital for Pakistan's economic growth: SM Tanveer

Lahore (Web Desk): SM Tanveer, Patron-in-Chief of United Business Group (UBG), stressed the vital importance of Pakistan maintaining its GSP Plus status, highlighting the significant advantages it brings to the country’s economy.

He shared these views at a press conference flanked by members of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) and All Pakistan Textile Mills Association (APTMA) Chairman Kamran Arshad.

Rejecting the criticism surrounding the GSP Plus arrangement, Tanveer dismissed the propaganda and reminded that Pakistan had secured this status for the period 2024 to 2027.

He pointed out that achieving it required coordinated efforts from all relevant stakeholders and insisted that it should not be jeopardized. He also emphasized that the GSP Plus status plays a key role in driving economic growth.

While recognizing the economic challenges facing the country, SM Tanveer underlined ongoing measures to improve the situation and called for greater engagement in free trade agreements to bolster Pakistan’s economic prospects.

Speaking on the occasion, APTMA Chairman Kamran Arshad reinforced Tanveer’s position, noting the remarkable growth in Pakistan’s exports—from less than $2 billion in 2013 to $9.5 billion at present—and stressed the need for the government to protect this trade advantage.

He underscored that preserving national integrity is crucial and that the country’s trading privileges must remain secure.

Both leaders also highlighted the ongoing discussions between the government and taxpayers, including both filers and non-filers, aimed at ensuring a stable and supportive economic environment for the nation.