Prime Minister Shehbaz Sharif, Field Marshal Syed Asim Munir and cabinet ministers witness the exchange of documents between the government and Arif Habib consortium on privatization of PIA in Islamabad. Photo: Express
ISLAMABAD:
Prime Minister Shehbaz Sharif on Thursday reaffirmed Pakistan’s commitment to strengthening trade and economic cooperation with the European Union (EU), particularly through the Generalized Scheme of Preferences Plus (GSP+) preferential trade programme.
Speaking after a meeting with EU Ambassador to Pakistan Raimundas Karoblis at the Prime Minister House, the Prime Minister emphasized that Pakistan is dedicated to working closely with the EU on mutually beneficial trade-enhancing initiatives. The GSP+ scheme offers developing countries preferential access to European markets in exchange for commitments on sustainable development, good governance, human rights, labor rights and environmental protection. Eligible countries must implement 27 international conventions covering these areas and, in return, the EU reduces import duties to zero on more than two-thirds of the tariff lines applied to their exports. Pakistan is currently one of the eight countries benefiting from this scheme.
Prime Minister Shehbaz highlighted the vital role of the GSP+ program in boosting trade between Pakistan and the EU and promised full support of the government to improve trade relations under the scheme. He also highlighted Pakistan’s broader commitment to strengthening cooperation with the EU in multiple areas of mutual interest, including investment, development, security, migration and climate change.
Ambassador Karoblis, who took up his post a few months ago, expressed his gratitude for the warm welcome since his arrival and reaffirmed the EU’s dedication to deepening engagement with Pakistan. He stressed that trade promotion under the GSP+ program and broader trade initiatives remain a priority for the EU. The ambassador also welcomed the upcoming first EU-Pakistan Business Forum, scheduled for April, as a platform to further enhance bilateral trade and investment ties.
The Prime Minister referred to the outcome of the seventh Pakistan-EU Strategic Dialogue, held in Brussels last November under the leadership of Deputy Prime Minister and Foreign Minister Senator Ishaq Dar. During the dialogue, both sides reiterated their commitment to expanding trade and investment ties, particularly through the GSP+ scheme, and emphasized sustained collaboration on economic, security and development fronts.
Privatization of the PIA
In a separate development, Prime Minister Shehbaz Sharif said Pakistan International Airlines (PIA) is set to reach new heights under the leadership of Arif Habib Consortium, which recently acquired the national airline as part of the government’s privatization drive. Speaking at the signing ceremony of the transaction documents, the Prime Minister said that the privatization of PIA marks a historic step towards improving the airline’s performance, punctuality, cabin service and professional standards.
He congratulated the nation on the successful signing of the privatization agreement and praised Arif Habib and his team as distinguished business ambassadors of Pakistan who have contributed significantly to the progress of the country. Prime Minister Shehbaz added that the new ownership will prioritize passenger comfort and safety, ensuring a modern and professional air experience.
These initiatives, he said, reflect the government’s broader strategy to enhance Pakistan’s economic growth through strategic partnerships, international trade and modernization of key national institutions.
