FPCCI Urges Immediate Measures to Hedge Pakistan's Trade and Economy Against Global Oil Shocks Demands Targeted Safety Nets and Suspension of PDL for Export-Oriented Industries Atif Ikram Sheikh, President FPCCI

Karachi: Mr. Atif Ikram Sheikh, President of The Federation of Pakistan Chambers of
Commerce and Industry (FPCCI), has commended the European Union’s Generalized Scheme of
Preferences Plus (GSP+) for its monumental role in boosting Pakistan's exports. He highlighted
that the GSP+ status has driven an impressive 108% growth in Pakistani exports to the EU over
the last decade – which served as a critical lifeline for the national economy.

Mr. Atif Ikram Sheikh expressed his profound appreciation to the European Union and its
mission in Pakistan for their continued cooperation. The GSP+ framework has allowed a vast
majority of Pakistani products to enter the European market at zero or preferential tariff rates, he
added

FPCCI Chief, emphasizing the strategic partnership between Pakistan and the EU, noted that the
European Union has proven to be an invaluable economic ally. The historic export growth
witnessed under the GSP+ umbrella is a direct testament to thriving trade relations and the
enabling environment the EU has provided to Pakistani businesses, Mr. Sheikh added.
Mr. Atif Ikram Sheikh highlighted that GSP+ provides the business community with a
much-needed major export market and an opportunity to diversify beyond traditional textiles.
With the GSP+ framework evolving and international compliance requirements expanding, Mr.
Sheikh stressed that the lead-up to 2029 represents an important transitionary period.

FPCCI President maintained that to ensure that the business community can continue to
incrementally benefit from this preferential status in the EU; and, remain competitive globally as
well, we propose an enhanced government facilitation, awareness, and incentivization role.

Furthermore, he emphasized the need for dedicated government-industry task forces to help
businesses – especially SMEs – understand and implement the EU's core conventions on labor
rights, human rights, environmental standards, and good governance. He also called for the
removal of bureaucratic bottlenecks to improve the ease of doing business and requested targeted
policy incentives to help textile and other major sectors of the economy penetrate the European
market at an expanded and sustainable scale.

The transitionary period till December 2028 is a window of opportunity, not a time for
complacency; and, the government must hold our hand during this transitionary phase. Without
structural reforms, competitive energy pricing, and proactive compliance support, we risk losing
the market access we have tirelessly built, he added.

The FPCCI remains committed to working closely with both the Government of Pakistan and the
EU Mission to maximize the benefits of the GSP+ program and secure long-term economic
stability for the country

Brig Iftikhar Opel, SI (M), Retd.

Secretary General