Pakistan announced an emergency economic plan under which the country ban the import of non-essential and luxury items. Addressing a press conference, the Information Minister, Marriyum Aurangzeb confirmed the ban on the import of luxury and non-essential items. She said; “This is an emergency situation and Pakistanis will have to make sacrifices under the economic plan. This will have a quick impact on foreign reserves. The ban will have an impact of $6 billion.”
PM Shehbaz blamed the ex-government for the economic downfall
The Prime of Pakistan, Shehbaz Sharif, said in a tweet; “My decision to ban the 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.” The premier further added; “Together we will overcome all the challenges with resolve and determination, InshaAllah!”
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.
— Shehbaz Sharif (@CMShehbaz) May 19, 2022
The Prime Minister also mentioned that the ban on the import of luxury and non-essential items will help save the country’s foreign exchange reserves which dropped to $10.16 billion on May 13th. The development came as Pakistani officials and the representatives of the International Monetary Fund meet in Doha for the revival of the stalled USD 6 billion Extended Fund Facility (EFF) program.
List of banned luxury and non-essential items
- Automobiles
- Mobile phones
- Home appliances
- Fruits and dry fruits (except Afghanistan)
- Crockery
- Private weapons and ammunition
- Shoes
- Chandeliers and lighting (except energy savers)
- Headphones and loudspeakers
- Sauces
- Doors and window frames
- Traveling bags and suitcases
- Sanitary ware
- Fish and frozen fish
- Carpets (except Afghanistan)
- Preserved fruits
- Tissue paper
- Furniture
- Shampoos
- Confectionary
- Luxury mattresses and sleeping bags
- Jams and jelly
- Cornflakes
- Toiletries
- Heaters and blowers
- Sunglasses
- Kitchenware
- Aerated water
- Frozen meat
- Juices
- Pasta
- Ice cream
- Cigarettes
- Shaving goods
- Luxury leather apparel
- Musical instruments
- Salon items
- Chocolates
Read more: Government to Hike the Taxes on the Import of Mobile Phones
