The government of Pakistan has imposed a ban on the import of luxury items!
As reported, the federal government on Wednesday decided to impose a ban on the import of non-essential and luxury items amid the continuous depreciation of the rupee and an unsettling economic crisis.
The directives to impose the ban were given by PM Shehbaz Sharif with immediate implementation.
PM has ordered to ban the import of luxury vehicles and other non-essential items, including cosmetics.
The government aims to control the depreciation of money will be controlled by imposing a ban on the import of luxury items.
On the other hand, the Federal Board of Revenue (FBR) has submitted a proposal to increase duty on a few items.
According to the sources, the duty will be increased on the following items:
- On machinery, the regulatory duty will be up by 10%
- Duty on home appliances by 50%
- Duty on power generation machinery regulations to go up by 30%
- Duty on cars above 1,000cc to be up by 100% and 30% ACD
- Duty on steel products regulatory duty to go up by 10%
- Regulatory duty on ceramics to be up by 40%
- Duty on mobile phones to rise within a range of Rs6,000 to Rs44,000 per unit