KATI hails EU for removing Pakistan from high-risk countries’ list

KARACHI: Korangi Association of Trade and Industry (KATI) President Faraz-ur-Rehman expressed his gratitude for the European Union’s removal of Pakistan from the list of high-risk countries.

He said that after FATF, it is another major achievement of the government through which exports can be increased. In 2018, Pakistan was added to the list, which was causing huge damage to the economy. EU exporters from Pakistan will not be subject to additional EU legal and economic operator conditions, which will facilitate exports.

President KATI said that Pakistan has removed the shortcomings of high-risk third countries, which are not a threat to the international financial system anymore. With this progress, Pakistan's ongoing economic crisis can be overcome.

Faraz-ur-Rehman said that the government should consult and lobby to remove the ban on the fisheries sector so that the obstacles in one of the major export sectors of Pakistan can be removed and exports can also increase.

President KATI congratulated Prime Minister Shehbaz Sharif, Foreign Minister Bilawal Bhutto Zardari and Minister of Industry and Commerce Naveed Qamar on this occasion and hoped that Pakistan would take advantage of this opportunity to take more steps to promote exports.

Copyright Business Recorder, 2023