European Union decides to maintain Pakistan's GSP Plus status
European Union decides to maintain Pakistan's GSP Plus status
BRUSSELS (Dunya News) – The European Union has decided to maintain the Generalised Scheme of Preferences (GSP+) status of Pakistan.
According to a statement issued by the European Commission, Pakistan will remain in GSP Plus till 2023. Under GSP Plus, there will be no tax on Pakistani products.
The European Commission also changed the rules regarding GSP Plus.
According to the European Commission, the new law gives the European Commission the power to withdraw GSP Plus status prematurely. This status can be revoked if human rights or labor laws are violated.
The statement stated that It has introduced six new conventions for Pakistan that are related to providing facility to people with physical disability, tackling climate change, and child labour.
Furthermore, it has also introduced new GSP rules in order to facilitate the low-income countries.
"In the latest review, Pakistan s individual status was not discussed. The discussion revolved around new conditions in GSP Plus, which include the six new aforementioned conventions," the statement said.
Earlier in March 2020, the EU extended Pakistan s GSP plus status till 2022.
