List and loop

[Sandeep2000]

I am not getting expected output? Why?

phrase="don't panic"
plist=list(phrase)
str1="on tap"
qlist=list(str1)
for item in qlist:
    if item not in plist:
        plist.remove(item)
print(plist)

Output:

Output:
['o', 'n', 't', ' ', 'p', 'a', 'n', 'c']

Desired output:
I want program to remove characters from plist which are not in qlist list.

Output:
['o', 'n', “‘”, 't','p', ‘a’, ‘n’]