ISLAMABAD: A prominent economist Dr. Aadil Nakhoda on Tuesday stressed the vital significance of preserving Pakistan’s GSP Plus status, warning that its loss could result in a substantial loss exceeding 3 billion dollars and worsen the country’s balance of payments.
Speaking at the seventh Islamabad Policy Exchange event, Dr Adil, the author of “Pakistan and EU Trade Potential: The Bottlenecks and Roadmap for Reforms,” emphasized that Pakistan should diversify its products and improve quality to access untapped European markets.
Highlighting the need for Pakistan to broaden its product variety and increase quality through strategic diversification to access untapped European markets, he emphasized boosting exports, saying it is imperative to eliminate regulatory obstacles and lower the operational expenses for companies.
Pakistan to Increase Exports
Moreover, he said that Pakistani exporters need instruction and knowledge regarding evolving international standards and compliance prerequisites.
This would enable domestic producers to improve their methods and meet quality standards, he maintained.
