Home Economy ECC decides to lift ban on import of all luxury items

ECC decides to lift ban on import of all luxury items

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August 29, 2022 (MLN):  The Economic Coordination Committee (ECC) of the Cabinet has decided to lift ban on imports of all non-essential and luxury items, said a press release issued today.

The decision was taken during a meeting held in Islamabad with Finance Minister Miftah Ismail in the chair.

Ministry of Commerce presented a summary on prohibition/complete quantitative restrictions on import of non-essential and luxury items.

It was submitted that a ban was imposed on import of about 33 classes/categories of goods covering more than 860 products/tariff lines on 19th May, 2022.  

Owing to serious concerns raised by trading partners on the imposition of ban and considering the fact that the ban has impacted supply chains and domestic retail industry, the ECC decided that ban may be lifted on all the items.

Further the ECC recommended release of those held up consignments arrived after 30th June up to 31st July, 2022 with payment of surcharge.

Federal Minister for Commerce Syed Naveed Qamar, Federal Minister for Industries & production Makhdoom Syed Murtaza Mehmood, Minister of State for Finance and Revenue Dr. Aisha Ghous Pasha, Coordinator to the PM on economy Mr. Bilal Azhar Kayani, Coordinator to PM on Commerce & Industry Rana Ihsan Afzal, Chairman FBR, Chairman OGRA, Federal Secretaries and senior officers attended the meeting.

Copyright Mettis Link News

Posted on:2022-08-20T00:53:21+05:00

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