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Pakistan textile industry

Creation of 1Mn new jobs- Pakistan textile industry

Islamabad: Pakistan’s textile industry gets a boon after the European Parliament’s decision to grant Islamabad GSP-Plus status. Experts believe that the move will create additional one million jobs in the textile sector while textile exports will get an additional boost of an estimated $2 billion a year. Yesterday, the European Parliament approved a legislation under which 10 countries including Pakistan are entitled to Generalized System of Preferences (GSP) Plus Scheme. Under the scheme, 20 percent of the textile…