Islamabad May 19 2022: The government of Pakistan has imposed a ban on the import of all non-essential luxury items under an “emergency economic plan”.
“My decision to ban import of luxury items will save the country precious foreign exchange. We will practice austerity & financially stronger people must lead in this effort so that the less privileged among us do not have to bear this burden inflicted on them by the PTI govt.” says Prime Minister Shahbaz Sharif.
The decision comes as the dollar has witnessed a meteoric rise against the rupee over the past few weeks on account of the country’s rising import bill, growing current account deficit and depleting foreign exchange reserves. On Thursday, the dollar shattered all records and soared to Rs200 in the interbank market.
Government clarified that import orders where the letter of credit had already been opened or where payment had been made would be processed but no newer ones would be entertained.
Items banned includes Cars, Mobile phones, Dry fruits, Home appliances, Crockery, Private weapons, Shoes, Decoration items, Doors and window frames, Sauces, Frozen meat, Fruits, Carpets, Tissue paper, Furniture, Make-up, Chocolates, confectionary items, Shampoos, Sunglasses, Cigarettes, Musical instruments etc
