*ISLAMABAD: The federal government has lifted the ban on the import ofluxury and non-essential items after two months. *
According to details, the decision was taken during the EconomicCoordination Committee’s (ECC) meeting, chaired by Finance Minister MiftahIsmail.
The meeting review the ban after two months owing to serious concernsraised by major trading partners on the imposition of ban and consideringthe fact that the ban has impacted supply chains and domestic retailindustry.
The members were briefed that in order to curtail the rising currentaccount deficit, a ban on the import of about 33 classes/categories ofgoods was imposed with the approval of the cabinet.
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In the light of fact that imports substantially reduced, the EconomicCoordination Committee decided to lift the ban on imported goods except forcompletely built-up automobiles, mobile phones, and home appliances.
Furthermore, it should be noted that all held-up consignments (except itemsthat still remain in banned category) which arrived at the ports after July1, 2022 may be cleared subject to payment of 25% surcharge.
