ISLAMABAD: An internal rift between European Parliament (EP) and European Council (EC) accounted for an anticipated cliff edge by the end of 2023 which reportedly led to rollover of GSP (Generalised System of Preferences) for four years - till 2027 - for the beneficiary countries.
On October 5, 2023, the EU MPs voted with 561 in favour, 5 against and 2 abstentions to extend current rules on the scheme of GSP after talks with the Council on the new rules were paused in June.
The current GSP regulation was set to expire at the end of 2023, and after negotiations between the Parliament and the Council of member states in January 2023 it was agreed to establish new rules. In June 2023, talks were paused as the gap between the position of the Parliament and member states could not be bridged, and as a result, the current rules were extended.
Adoption of digital payments can boost GDP by 7pc: study
According to MPs, the rollover is an unfortunate consequence of not being able to reach an agreement between the Council and Parliament on the ongoing review of the GSP regulation.
EU Ambassador to Pakistan, Riina Kionka, in her Xed message on October 5, 2023, soon after approval of rollover of GSP for the beneficiary countries including Pakistan wrote: “to clarify; this rollover is proposed so as to avoid a cliff edge at the end of 2023.
It is unrelated to Pakistan’s performance or that that of any other beneficiary country. Member States will decide soon. Monitoring will continue.“
The sources said, report of previous review of GSP is expected soon, adding that Pakistan has to deal with another two reviews after the final nod for the scheme from the European Council.
The government is making all-out effort to comply with the agreed actions but human rights violations against minorities including Christians and Ahmadis and political opponents are major areas of concern.
Copyright Business Recorder, 2023
Comments
Comments are closed.