LAHORE: The former minister for commerce, Gohar Ejaz, has expressed concern over the trade deal between the European Union (EU) and India and warned that it could put the employment of over 10 million people in Pakistan at risk.
Speaking in Lahore, Gohar Ejaz highlighted the potential consequences of the trade deal between the EU and India for Pakistan’s industry, and cautioned that it posed a serious threat to Pakistan’s industrial sector, particularly the textile industry.
He also cautioned that the EU-India trade agreement could also affect a large share of the country’s exports and employment.
He warned that textile exports of Pakistan, valued at approximately $9bn, could be adversely affected because of the agreement, potentially leading to 10 million job losses across the country.
Former Minister, Gohar Ejaz said that the special trade benefits previously extended to Pakistan by the EU had ended, and now zero-tariff would apply to all regional countries, removing the special zero-tariff advantage Pakistan once enjoyed.
Gohar Ejaz stressed that the government of Pakistan have to take immediate steps to protect the domestic textile industry. He demanded that electricity and gas be supplied to the sector at regionally competitive rates.
The former minister also stressed the need to bring taxes and overall business costs in line with those of neighboring countries, and warned that Pakistani industries could no longer bear the burden of systemic inefficiencies.