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Pakistan will benefit for two more years from GSP scheme

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pakistan-textilesRecently Abdul Razak Dawood, Advisor to the Prime Minster on Commerce has warned textile exporters against rumors regarding Pakistan’s Generalized System of Preferences (GSP) status as the country will continue to benefit under this scheme. Dawood said, Pakistan will benefit for two more years from this scheme. It plans to extend this facility for another two years. Dawood says such an initiative will help Pakistan’s footwear sector to grow further. The country has launched the PSDH initiative wherein computer aided footwear designing courses with latest technology will be conducted regularly to develop the industry and individual entrepreneurs to consolidate their position in the global scenario. Imran Malik, Chairman, Pakistan Footwear Manufacturers Association (PFMA) says by offering concessional regularity policies and tax relief, the industry is on the fast track of growth during last three years. It has witnessed 63 per cent increase in its membership, 92 per cent reduction in shoe import, 22 per cent increase in export in the last three years alone.