Rupee appreciation reduces Pakistan’s textile industry’s benefits from EU’s super-GSP

Pakistani textile exporters recently stated that the rupee has appreciated by about 10% against the U.S. dollar in recent months, resulting in reduced export profits and cuts in benefits from the EU’s super-GSP treatment. The industry believes that the central bank should be responsible for its inability to control the appreciation of the rupee and recommends that it lower the discount rate by 2 percentage points to provide refinancing facilities for exporters and promote investment and exports.