Pakistan looks to US for EU concession approval

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KARACHI: Islamabad would approach the US and ask for its help to persuade India, Bangladesh and Srilanka to support the additional autonomous trade preferences granted by the European Union (EU).
The EU trade concession bill would unanimously pass in the WTO if India supports the bill, as other member countries of the international organisation are in favour of the draft bill forwarded by EU, Federal Minister for Textile Industry Rana Farooq Saeed Khan told Pakistan Today.
The federal minister, who was on a visit to Pakistan Textile City (PTC), hoped that the draft waiver submitted by the EU in WTO would be approved at the earliest. The EU had earlier submitted to the consideration of the Council for Trade in Goods of WTO a request for a “waiver from GATT Articles I and XIII,” concerning the trade concession to Pakistan.
He stated that the government has successfully persuaded the European countries to facilitate Pakistan as the country’s economy has badly suffered as result of the catastrophic flood this year. India had opposed the unilateral market access to Pakistan in a WTO meeting, which was held on November 30, and asked for a review of the proposals.
India raised multiple objections on the application of EU and asserted that a well meaning gesture by the EU would cause collateral damage to trade divergence and impact poor workers in less developed countries (LDCs) and developing countries.
In addition, Bangladesh and Srilanka had also shown their reservations over proposals but they did not oppose the draft to be passed from the WTO. The minister, however, denied commenting on the issue of reformed General Sales Tax which has become a challenge for the Pakistan peoples party led government.
Talking about the PTC, he said that the project which would host a large number of textile industries with coal fired 250MW power plant, combined effluent treatment plant, fire fighting system etc. by the mid of next year. He further said that the concept of textile city is to develop an industrial estate dedicated exclusively to value added textile products.
The installation of world class infrastructure with uninterrupted supply of required industrial quality water stable electricity, gas and essential amenities would enhance productivity, cost effectiveness and quick response delivery, he added.
Out of the allocated 1220 acres of land for the project, the minister said that around 300 acre lands would be developed in the first stage of the project. The minister was also accompanied by Federal Secretary for Textile Dr Waqar Masood, Chief Executive Officer of PTC Zaheer A Hussian and other officials.