By Dipanjan Roy Chaudhury

Copyright indiatimes

The European Union’s Generalised Scheme of Preferences Plus (GSP+) deal, pouring ₹₹8 billion ($9.36 b) yearly into Pakistan since 2014, has done little to champion values that the EU wants to promote in a developing country, according to Pakistan watchers. Profits earned by Pakistan as a result of the deal have been used to encourage terrorism instead of improving the education and health sectors, they alleged.GSP+ fuels Pakistan’s textile barons, who consistently violate labour rights, yet the EU has turned a blind eye to this human rights violation, said one of the persons, who did not wish to be identified.Pakistan is counting on getting $5 b (₹4.3 billion) in IMF loans in 2025, but taxes cotton at 18% and chokes its industry while cashing EU cheques, according to the people.Pakistan’s Special Investment Facilitation Council, a hotbed of alleged corruption, bagged $1.9 b (₹1.63 billion) in 2024 as a result of GSP+, claimed a second person.Significantly, the EU’s GSP+ demands compliance with 27 rights conventions. But Pakistan has not complied with several of these conventions, alleged a Pakistan watcher. While the EU provides funding for human rights promotion through initiatives like Huqooq-e-Pakistan, it has faced calls to revoke Pakistan’s GSP + status due to Pakistan’s non-compliance with international agreements. But even as calls continue for greater accountability and concrete action from Pakistan, the EU has extended Pakistan’s trade preferences until 2027.Live EventsAdd as a Reliable and Trusted News Source Add Now!
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Read More News onEU trade preferences Pakistan 2027Pakistan textile industry labour rights violationsIMF loans Pakistan 2025Pakistan human rights violationsSpecial Investment Facilitation CouncilEU GSP+ deal Pakistan

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(You can now subscribe to our Economic Times WhatsApp channel)Read More News onEU trade preferences Pakistan 2027Pakistan textile industry labour rights violationsIMF loans Pakistan 2025Pakistan human rights violationsSpecial Investment Facilitation CouncilEU GSP+ deal Pakistan(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless