Islamabad August 18 2022: Government of Pakistan removed restrictions for import of luxury items so that country can comply with standards set by IMF and WTO says Pakistan’s Finance Minister Miftah Ismail in a press conference here at Islamabad.
Government will allow the import of luxury items but will increase the regulatory duty from 300% to 400% to restrict their imports as country did not have dollars to pay for them. These include fully furbished cars, mobile phones, shoes, purse, meat etc.
Government removed fixed tax on retailers while continue to collect variable sales tax which will be based on consumption on electricity. The shortfall created this relief will be covered through increasing tax on tobacco sector.