Miftah says govt to lift import banBusiness
Finance Minister Miftah Ismail announced on Thursday that the government was lifting the ban on the import of non-essential and luxury items.
Addressing a press conference in Islamabad, Ismail said that the government’s top most priority was to provide the country’s population with basic necessities with a limited amount of dollars.
“So the choice is simple; that we either use that money to buy cars or wheat. That we buy mobile phones or grain, or home appliances, microwaves and air conditioners as opposed to edible oil.”
Therefore, we had imposed a ban on these items, the minister said. “However, because it is a requirement of the international community that a ban is not imposed, we are removing it on all items.”
But at the same time, the government will be imposing heavy regulatory duties (RDs) on these items, he said, adding that as a result these items would not be imported as “finished goods”.
We will try to impose the maximum amount of permissible RDs, Ismail said.
More to follow