EU delegation sends ‘clear message,’ says Pakistan should not take GSP+ status for granted

Pakistan's Foreign Minister Shah Mahmood Qureshi (2R) meets the visiting European Parliament delegation in Islamabad, Pakistan, November 3, 2021. (Photo courtesy: @EUPakistan/Twitter)
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Updated 08 November 2021
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EU delegation sends ‘clear message,’ says Pakistan should not take GSP+ status for granted

  • Four-member European Parliament delegation visited Islamabad last week ahead of review of Pakistan’s GPS+ status in February
  • Luis Garicano, part of visiting delegation, says deteriorating rights situation "puts into question continuation of preferred trade status"

Islamabad: Luis Garicano, a member of a European Parliament delegation that visited Pakistan last week, has said Pakistan should not take its privileged trade status for granted, adding that Pakistan was making “no progress” on women and minority rights as well as its press freedom record, which it is required to do to get trade concessions beyond 2023.
This 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 month the South Asian nation would have to “redouble” its efforts to meet international rights conventions in order to continue to be a part of the GSP+ scheme.
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.
Last week, a four-member European Union Parliamentary Delegation for South Asia Relations visited Pakistan before the EU reviews its decision on the country’s GPS+ status in February.
“No progress on these matters,” Garicano, who was part of the delegation and a member of the legislative body’s Committee on Economic and Monetary Affairs, said on Twitter on Sunday, listing media freedom and women and minority rights. “Our message was clear: Pakistan should not take for granted its privileged trade status. EU has done its part, Pakistan must fulfill its own part.”


The European Parliament, Garicano said, was “very concerned about the deteriorating human rights situation, which puts into question the continuation of the preferred trade status of the country.”

Foreign Minister Shah Mahmood Qureshi said last Wednesday Pakistan was ready to implement all international conventions relating to its GSP+ status. 
Speaking to Arab News, the prime minister’s adviser on trade and commerce Abdul Razak Dawood said last month Pakistan would have to file a fresh application for the new scheme.
“Pakistani products … have duty free access in all 27 member states of the European Union since January 1, 2014, until December 31, 2023,” Dawood said, adding that the EU periodically reviewed the commitment to the signed international conventions of all beneficiary nations.
Dawood said all nations, including Pakistan, would be required to ratify and implement five new international conventions, in addition to the previous 27 international covenants, to benefit from a new program to be adopted by the EU from 2024 to 2036.
The EU office in Islamabad said in a statement last month Pakistan was the largest beneficiary of the current GSP+ program.
“In the last monitoring reports, some progress has been positively highlighted, while concerns have been raised regarding child labor, torture, media freedom and access to justice, among others,” the EU statement said.
European Union Ambassador to Pakistan Androulla Kaminara said in a statement last month that Pakistan’s exports to Europe had increased by 60 percent since it was granted GSP+ status in 2014 but “in order to maintain the trade preferences under GSP Plus beyond 2023, Pakistan will have to redouble its efforts to turn the international conventions it signed into reality on the ground.”
“To make the case to be eligible under the new GSP Plus system, Pakistan, like any other potential beneficiary countries will have to demonstrate tangible progress to convince EU parliamentarians and member state governments.”
In fiscal year 2020-21, total bilateral trade with the EU was $ 10.88 billion.

 


Pakistan increases Reko Diq investment to $244 million as Barrick reviews project

Updated 19 February 2026
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Pakistan increases Reko Diq investment to $244 million as Barrick reviews project

  • State-owned PPL injects $50.2 million more in special purpose vehicle formed to manage Islamabad’s 25 percent stake in copper-gold mine
  • Canadian operator Barrick Mining Corporation this month ordered project’s review following deadly separatist attacks in Balochistan province

KARACHI: The state-run Pakistan Petroleum Limited (PPL) has invested an additional Rs14 billion ($50.2 million) equity in the multi-billion-dollar Reko Diq copper-gold mine, the company said in its latest financial report on Thursday, as the project’s Canadian operator reviews the project following recently deadly attacks. 

Canada’s Barrick Mining Corporation owns a 50 percent share in Reko Diq in the southwestern Balochistan province, along with three Pakistani federal state-owned enterprises including PPL that own 25 percent, while the Balochistan government has the remaining 25 percent share in the project.

The Canadian company announced earlier this month it planned to “immediately” begin a comprehensive review of all aspects of the Reko Diq project following coordinated attacks in Balochistan on Jan. 30-31 that killed 36 civilians and 22 security forces personnel. 

“With respect to the Reko Diq project, the company has made further equity investment in Pakistan Minerals Private Limited (PMPL) during the period amounting to Rs14,025 million ($50.2m),” PPL told its shareholders in its financial statement for the half year ending at Dec. 31.

The additional equity has increased PPL’s total cost of investment in the PMPL to Rs68.1 billion ($243.6 million), it added. 

The PMPL is a special purpose vehicle formed to manage the federal government’s 25 percent stake in the Reko Diq project. It is a consortium of three state-owned enterprises (SOEs) namely the PPL, the Oil & Gas Development Company Limited (OGDCL) and Government Holdings (Private) Limited (GHPL) which is responsible for handling financing, equity contributions and strategic, legal or technical dealings with partners like Barrick.

“The project continued to advance site works during the period (July-December FY26),” the PPL said. “The operator (Barrick) is undertaking a review of all aspects of the project, including with respect to the project’s security arrangements, development timetable and capital budget.” 

This week, Balochistan Chief Minister Sarfraz Bugti assured investors that Pakistan has the “capacity and capability” to secure the Reko Diq project amid surging militancy. 

The PPL explores, drills, and produces oil and natural gas. Its current portfolio, together with its subsidiaries and associates, consists of 47 exploratory blocks that include one offshore Block-5 in Abu Dhabi and one onshore block in Yemen.

In December, PPL signed a strategic Deed of Assignment under which it assigned 25 percent of its participating interest (PI) and operatorship of Eastern Offshore Indus C block to Turkish Petroleum Overseas Company, a unit of state-owned Türkiye Petrolleri Anonim Ortaklığı.

Assigning 20 percent PI each to OGDCL and Mari Energies Limited, the company has retained the remaining 35 percent PI to play a key role in the block’s development.