A. Two Years
B. Three Years
C. Four Years
D. Five Years
Brief Facts about GSP Plus Status
Since the year 2014, Pakistan has been included in the lower-income states that are enjoying the GSP Plus status of the EU. GSP (Generalised System of Preferences) Plus Status is the special privilege that is awarded by the European Union to various states. According to this economic or commercial privilege, the EU gives special rebates to various states concerning exporting goods to the European States with minimum or no import duty. In this way, the GSP Plus Status awarded state can sell its goods to European States at comparatively low prices. In October 2023, the EU extended the GSP Plus Status of Pakistan for another 4 years. There were a total of 561 votes in favor of Pakistan, 5 votes were against and 2 were absent.
