SAARC Chamber of Commerce and Industry (SAARC-CCI) Pakistan Chapter urged the upcoming government to slap a complete ban on import of luxury items to protect our dwindling foreign exchange reserves.
Addressing a meeting of traders in Islamabad, Senior Vice President of SCCI and United Business Group Central Chairman, Iftikhar Ali Malik said that authorities can consider a ban on imports like many other countries including Iran, Nigeria, and Egypt which have experienced similar circumstances.
Citing examples, he said that Pakistan is currently importing about eighty thousand luxury cars along with thousands of costly motorcycles. In addition to that, countless other items, even fruits and vegetables worth billions of dollars annually are being imported at the moment, which must be banned in the interests of the country.
Stressing on communication with stakeholders, Iftikhar Malik said that the government should adopt the practice of informing the masses about the benefits of the trade deals with partner countries before signing new deals.
