The Govt has banned the import of non-essential items to control inflation
Govt bans import of non-essential & luxury items. source: propakistani.pk

The government banned the import of non-essential and luxury goods to control inflation, stabilize foreign exchange, stem the rupee’s decline, stabilize the economy, and reduce the country’s dependence on imports. However, Minister of Information and Broadcasting Marriyum Aurangzeb announced at a news conference.

The complete list of items :

  • Mobile Phones
  • Home Appliances
  • Fruits and Dry Fruits (except Afghanistan)
  • Crockery
  • Private Weapons & Ammunition
  • Shoes
  • Chandeliers & Lighting (except Energy Savers)
  • Headphones & Loudspeakers
  • Sauces, Ketchup, etc.
  • Doors and Window Frames
  • Traveling Bags and Suitcases
  • Sanitary ware
  • Fish & Frozen Food
  • Carpets (except Afghanistan)
  • Preserved Fruits
  • Tissue Paper
  • Furniture
  • Shampoos
  • Automobiles
  • Confectionary
  • Luxury mattresses & sleeping bags
  • Jams & Jelly
  • Cornflakes
  • Bathroom ware / Toiletries
  • Heaters / Blowers
  • Sunglasses
  • Kitchenware
  • Aerated water
  • Frozen Meat
  • Juices
  • Pasta etc.
  • Ice cream
  • Cigarettes
  • Shaving Goods
  • Luxury Leather Apparel
  • Musical Instruments
  • Saloon items like hairdryers etc.
  • Chocolates

Policy to promote the local industry:

Government actions will help to reduce the country’s growing account deficit. Moreover, the main purpose of these measures was to reduce the country’s reliance on imports and implement an export-oriented policy to develop local industries. According to minister PM Shehbaz Sharif is making strenuous efforts to assist ordinary people. In addition, the government is working on a program to develop local producers to create jobs.

The decision to banned the import of luxury items:

In a tweet, Prime Minister Shehbaz Sharif said the decision to ban the importation of luxury goods would save the country significant foreign exchange. The prime minister said that the financially powerful people should lead this effort so that those who are poor among us do not bear the burden imposed by the previous government.

PTI’S Reaction to Import Ban:

Hammad Azhar, the leader of Pakistan Tehreek-e-Insaf , has questioned the decision to ban imports, saying the items make up a small percentage of the country’s total bill. The current non-oil account deficit is slightly below $ 1 billion.” These sanctions will be meaningless, he said in a tweet. Pakistan State Bank funds have also been reduced to less than 23 months.

Conclusion:

The ban on the importation of mobile phones and cars will provide a huge monthly savings of up to $ 188.25 million. Moreover, a ban on importing dried fruits and vegetables will result in a monthly savings of $ 19.49 million. Another 35 items combined will save the country $ 114.92 million. Furthermore the import ban will also reduce revenues in the import category by Rs 35 billion.

Read More: The UAE economic team will arrive in Pakistan to meet PM Shehbaz

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