Decision to ban import of luxury items will save the country’s precious foreign exchange, says Prime Minister Shehbaz Sharif
The federal government has banned import of almost 80 non-essential and luxury items to control surging inflation, stabilise depleting foreign exchange reserves, strengthen economy, and reduce the country’s reliance on imports.
Prime Minister Shehbaz Sharif has said that decision to ban import of luxury items will save the country’s precious foreign exchange.
In a tweet on Thursday, the prime minister said, “We will practice austerity and 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 last government of the Pakistan Tehreek-e-Insaf (PTI).”
Earlier, Minister for Information and Broadcasting Marriyum Aurangzeb said that import of luxury items, including vehicles, mobile phones, home appliances, dry and fresh fruits, crockery, private weapons, decoration items, preserved and frozen food items, sanitary ware, doors and windows, and beauty and confectionary items, has been banned.
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“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 and also help to minimise current account deficit,” the information minister said this during a press conference.
She said the prime objective of these measures is aimed at reducing reliance on imports and introducing export-oriented policy to promote local industry in the country. She said a plan is also being prepared to promote local manufacturers so that people will be provided employment opportunities.
“Prime Minister Shehbaz Sharif is making strenuous efforts to provide relief to the common people. Those who are questioning the performance of a four-week government, should be ashamed of this approach,” the minister added.
She said the dollar rate had been Rs115 when the PML-N left the government in 2012, claiming the last government of PTI took this price to Rs189. She continued that former prime minister Nawaz Sharif successfully completed the IMF programme in 2015 and included Pakistan in global emerging markets.
The information minister noted that the PTI government went against the agreement it had made with the International Monetary Fund (IMF) by subsidising the price of petroleum products.
She said the dollar rate had been Rs115 when the PML-N left the government in 2012, claiming the last government of PTI took this price to Rs189. it was former prime minister Nawaz Sharif who successfully completed the IMF programme in 2015 and included Pakistan in global emerging markets.
The information minister noted that the PTI government went against the agreement it had made with the International Monetary Fund (IMF) by subsidising the price of petroleum products.
“Now, we cannot come out of the conditions put forth by the IMF for Pakistan. But despite that, instead of shifting the burden of conspirators on Pakistanis, the PML-N and its allies do not plan on doing this as it has never been their manifesto,” Aurangzeb said.
She said the last government gave an unfunded subsidy on petroleum products to paralyse Pakistan’s economy. Marriyum Aurangzeb said the government is also taking measures to improve the energy situation in the country.
The information minister said that the previous government did not have an economic plan. “[Ex-prime minister] Imran Khan would often say that he wasn’t in power to know about the rates of tomatoes.”
“They [PTI] first exported sugar, then imported it and sold it at Rs120, whereas, during the PML-N’s tenure, it stood at Rs62 per kg. And during their tenure, women stood for a kilo of sugar in long queues. Don’t they have any shame? Do they think that the people of Pakistan have forgotten all this?”
Which items are banned?
The government has banned the import of items including; mobile phones, home appliances, fruits and dry fruits (except from Afghanistan), crockery, private weapons & ammunition.
Import of shoes, chandeliers and lighting (except energy savers), headphones and loudspeakers, sauces, ketchup etc, doors and window frames, travelling bags and suitcases, sanitary ware, fish and frozen fish, carpets (except from Afghanistan), preserved fruits, tissue paper is also banned.
Government also halted import of furniture, shampoos, automobiles, confectionary, luxury mattresses and sleeping bags, jams and jelly, cornflakes, bathroom ware and toiletries.
Heaters and blowers, sunglasses, kitchenware, aerated water, frozen meat, juices, pasta, etc, ice cream, cigarettes, shaving goods, luxury leather apparel, musical instruments, saloon items like hair dryers etc, and chocolates will also in ban list.
