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EU mission arrives in Pakistan to assess action on international conventions before renewing GSP+ status

11:25 PM | 22 Jun, 2022
EU mission arrives in Pakistan to assess action on international conventions before renewing GSP+ status
Source: PID

ISLAMABAD – A European Union (EU) monitoring mission arrived in Pakistan on Wednesday to assess the implementation of 27 international conventions the country is signatory to.

Pakistan’s GSP+ status will be renewed beyond 2023 once the monitoring mission confirms the South Asian country is complying with all 27 international conventions.

GSP+ is a special trade arrangement offered to developing economies by European nations in return for their commitment to implement 27 international conventions on human rights, environmental protection and governance.

On September 21, 2021, in its review of the GSP+ scheme, the European Commission introduced six new conventions, pertaining in particular to children’s rights, environmental safety and persons with disabilities.

Last April, the European Parliament moved a resolution against Pakistan, seeking an immediate review of its eligibility for GSP+ status over what it called violence and discrimination against religious minorities and other vulnerable groups, as well as a crackdown on media. The EU ambassador to Islamabad said last October the South Asian nation would have to “redouble” its efforts to meet international rights conventions in order to continue to be a part of GSP+.

The current GSP framework will come to an end in December 2023.

“The GSP scheme is all about the EU’s and Pakistan’s joint commitment to sustainable development,” High Representative/Vice President Josep Borrell Fontelles said in a statement.

“GSP+ has been very beneficial for Pakistani businesses, increasing their exports to the EU market by 65 percent since the country joined GSP+ in 2014,” the statement added.

“The European Single Market, with over 440 million consumers, is Pakistan’s most important destination. Pakistan exports worth EUR 5.4 billion (approx. PKR 1.2 trillion), namely garments, bedlinen, terry towels, hosiery, leather, sports and surgical goods.”

During the mission, the EU team will hold meetings with the government, the UN Country Team, the International Labour Organization (ILO) and business and civil society representatives as well as other stakeholders. The findings of the mission will be part of the next GSP report, due to be presented to the European Parliament and the Council toward the end of 2022.

Daily Pakistan Global Web Desk

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Currency Rates in Pakistan - PKR to US Dollar, Euro, Dirham, Riyal 18 June 2024

Pakistani rupee rates against US Dollar and other currencies on June 18, 2024 (Tuesday) in open market.

USD to PKR Rate Today

US dollar was being quoted at 277.50 for buying and 280.65 for selling.

Euro's buying rate stands at 296 and selling rate is 299 while British Pound rate is 349.7 for buying, and 353.25 for selling.

UAE Dirham AED was at 74.80 and Saudi Riyal at 72.80.

Currency Symbol Buying Selling
US Dollar USD 277.50 280.65
Euro EUR 296.00 299.00
UK Pound Sterling GBP 349.70 353.25
U.A.E Dirham AED 74.80 75.60
Saudi Riyal SAR 72.80 73.55
Australian Dollar AUD 182.00 184.00
Bahrain Dinar BHD 741.18 749.18
Canadian Dollar CAD 204.00 206.00
China Yuan CNY 38.43 38.83
Danish Krone DKK 40.18 40.58
Hong Kong Dollar HKD 35.66 36.01
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.90 1.98
Kuwaiti Dinar KWD 909.34 909.34
Malaysian Ringgit MYR 59.30 59.90
New Zealand Dollar NZD 170.79 172.79
Norwegians Krone NOK 25.97 26.27
Omani Riyal OMR 723.88 731.88
Qatari Riyal QAR 76.42 77.12
Singapore Dollar SGD 203.65 205.65
Swedish Korona SEK 26.40 26.70
Swiss Franc CHF 311.90 314.40
Thai Bhat THB 7.58 7.73

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