Government decides to ban imports of more than 80 products.

Government decides to ban imports of more than 80 products.

The Prime Minister has approved the Federal Board of Revenue (FBR) proposals to reduce the import bill by ارب 1 billion per month and has decided to ban the import of more than 80 products.According to Finance Ministry sources, final approval of the proposals will be sought from the Economic Co-ordination Committee (ECC) and the Federal Cabinet.

LSources said that more than 80 items have been banned and are being imported for sale at supermarkets, while those items include dog and cat food,cheese,butter and other items.Sources said that 100 per cent regulatory duty and 35 per cent additional customs duty has also been proposed on import of vehicles of 1800 cc and above.Similarly,it has been decided to impose 40% regulatory duty on the import of mobile phones and ceramic tiles.The sources further said that it is proposed to impose 10 to 30 per cent duty on imported machinery as well as 10 per cent additional duty on machinery used in power generation.According to sources,Pakistan’s current account deficit has exceeded 13 13 billion in 10 months and the country’s imports in April alone were ارب 6.6 billion.

Leave a Reply

Your email address will not be published.

No posts available!