Ban on imports lifted

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import ban

Islamabad: The federal government Thursday decided to lift the ban imposed on the imports of luxury and non-essential items after successfully reducing the import bill in 2 months.

The Economic Coordination Committee (ECC) of the federal cabinet met on Thursday under the chair of Finance Minister Miftah Ismail.

During the meeting today, the Ministry of Commerce submitted a summary on prohibition/complete quantitative restrictions on the import of non-essential and luxury items.

The committee was briefed that in order to curtail the rising current account deficit, a ban on the import of about 33 classes/categories of goods was imposed with the approval of the cabinet.

“Due to the decision, the overall imports of the banned items have shrunk by over 69% — from $399.4 million to $123.9 million,” the statement read, mentioning that the ban has, however, impacted supply chains and the domestic retail industry.

However, the restrictions on the import of completely built-up automobiles, mobile phones, and home appliances will remain in place.

Govt bans import of luxury, non-essential items

To strengthen the economy, stop the devaluation of rupees and deal with the current economic turmoil, the government on May 19 imposed a ban on the import of non-essential and luxury items under an “emergency economic plan”.

The plan would help the government to reduce the country’s reliance on imports, said Federal Information Minister Marriyum Aurangzeb announcing the ban

She had said that the luxury imported items, including vehicles, mobile phones, home appliances, dry and fresh fruits, crockery, private weapons, decoration items, preserved and frozen food items, sanitary ware, doors and windows, beauty and confectionary items, cars, shoes, sauces, carpets, tissue paper, furniture, make-up, chocolates, shampoos, sunglasses, cigarettes and musical instruments.

Read: Govt bans import of luxury, non-essential items

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