Pakistan lifts ban on import of non-essential, luxury items
The Hindu
The import restrictions were introduced after the new government led by Prime Minister Shehbaz Sharif came under pressure to take measures to avoid default on external liabilities.
The Pakistan government has decided to lift a recently imposed ban on the import of “non-essential and luxury items” to control the cash-strapped country's depleting foreign reserves, according to media reports on Friday.
The Economic Coordination Committee (ECC) of the Cabinet presided over by Finance Minister Miftah Ismail in its meeting on Thursday also allowed importing 2,00,000 metric tonnes of wheat worth $85 million at $407.5 per tonne.
On May 19, Pakistan slapped a ban on import of 33 categories of goods, covering more than 860 product lines.
The import restrictions were introduced after the new government led by Prime Minister Shehbaz Sharif which assumed office in April, came under pressure to take measures to avoid default on external liabilities.
However, the decision was criticised by importers and the powerful elite – the main beneficiary and consumer of such goods.
The Economic Coordination Committee (ECC) of the Cabinet presided over by Finance Minister Miftah Ismail in its meeting on Thursday decided to remove the ban on “non-essential and luxury items” excluding automobiles, cell phones and electronics, the Dawn newspaper reported.
The ECC also lifted the ban on imported goods except for completed built units (CBUs) of automobiles, mobile phones and home appliances.
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