{"id":86079,"date":"2022-05-20T15:27:32","date_gmt":"2022-05-20T10:27:32","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=86079"},"modified":"2022-05-20T15:27:34","modified_gmt":"2022-05-20T10:27:34","slug":"govt-ban-import-luxury-commodities","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/govt-ban-import-luxury-commodities.html","title":{"rendered":"Govt imposes ban on import of luxury commodities to save revenue"},"content":{"rendered":"\n<p>Islamabad: The federal government has imposed a ban on the import of luxury products to save much-needed revenue and to arrest the current account deficit (CAD), a news source reported on May 19. The tax ban will affect 33 product categories and will save up to USD 500 million monthly in terms of the import of these products.<\/p>\n\n\n\n<p>Reportedly, the decision to ban imports of luxury items was announced by the government amidst a widening pay gap and the falling value of the rupee against greenbacks.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/sbp-report-reveals-paks-lowest-in-5-years-current-account-deficit-plummet.html\" data-type=\"post\" data-id=\"68352\" target=\"_blank\" rel=\"noreferrer noopener\">SBP report reveals Pak\u2019s \u2018lowest in 5 years\u2019 current account deficit plummet<\/a><\/p>\n\n\n\n<p>In a public announcement on Thursday, Prime Minister Shehbaz Sharif said in a Tweet that \u201c &#8220;My decision to ban the import of luxury items will save the country precious foreign exchange. We will practice austerity &amp; financially stronger people must lead in this effort so that the less privileged among us do not have to bear this burden. &#8221; <\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"twitter_widget_wrapper alia_embed_wrapper\"><div class=\"twitter_widget_border\"><!--ALIA start embed content--><blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">&quot;My decision to ban import of luxury items will save the country precious foreign exchange. We will practice austerity &amp; financially stronger people must lead in this effort so that the less privileged among us do not have to bear this burden.&quot;<br><br>~Prime Minister, Shehbaz Sharif <a href=\"https:\/\/t.co\/CPb3MyoAoc\">pic.twitter.com\/CPb3MyoAoc<\/a><\/p>&mdash; Government of Pakistan (@GovtofPakistan) <a href=\"https:\/\/twitter.com\/GovtofPakistan\/status\/1527302933439688704?ref_src=twsrc%5Etfw\">May 19, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><!--AliA end embed content--><\/div><\/div>\n<\/div><\/figure>\n\n\n\n<p>A four-page SRO598 of 2022 was released by the ministry of commerce for banned items.<\/p>\n\n\n\n<p><strong>List of banned items<\/strong><\/p>\n\n\n\n<p>A total of 800 items were banned, belonging to 33 categories, including food items, manufactured and CKD units, mobile phones, and confectionaries.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Automobiles<\/li><li>Mobile phones<\/li><li>Home appliances<\/li><li>Fruits and dry fruits (except Afghanistan)<\/li><li>Crockery<\/li><li>Private weapons and ammunition<\/li><li>Shoes<\/li><li>Chandeliers and lighting (except energy savers)<\/li><li>Headphones and loudspeakers<\/li><li>Sauces<\/li><li>Doors and window frames<\/li><li>Travelling bags and suitcases<\/li><li>Sanitary ware<\/li><li>Fish and frozen fish<\/li><li>Carpets (except Afghanistan)<\/li><li>Preserved fruits<\/li><li>Tissue paper<\/li><li>Furniture<\/li><li>Shampoos<\/li><li>Confectionary<\/li><li>Luxury mattresses and sleeping bags.<\/li><li>Jams and jellies<\/li><li>Cornflakes<\/li><li>Toiletries<\/li><li>heaters, blowers<\/li><li>Sunglasses<\/li><li>Kitchenware<\/li><li>Aerated water<\/li><li>Frozen meat<\/li><li>Juices<\/li><li>Pasta<\/li><li>Ice cream<\/li><li>Cigarettes<\/li><li>Shaving goods<\/li><li>Luxury leather apparel.<\/li><li>Musical instruments<\/li><li>Salon items like hairdryers<\/li><li>Chocolate<\/li><\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/pm-declares-decade-decade-dams.html\" data-type=\"post\" data-id=\"83917\" target=\"_blank\" rel=\"noreferrer noopener\">PM declares next decade \u2018Decade of Dams\u2019\u00a0\u00a0<\/a><\/p>\n\n\n\n<p><strong>Reversal of the import ban on some items,<\/strong><\/p>\n\n\n\n<p>Mobile phones and completely knocked-down (CKD) items, however, are exempt from the import ban. The government has decided instead to increase tariffs on both items to discourage their import. The decision regarding the new tariffs will be announced In the second half of Friday (May 20).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The federal government has imposed a ban on the import of luxury products to save much-needed revenue and to arrest the current account deficit (CAD), a news source reported on May 19. The tax ban will affect 33 product categories and will save up to USD 500 million monthly in terms of the import of these products. Reportedly, the decision to ban imports of luxury items was announced by the government amidst a widening pay gap and the falling value of the rupee against greenbacks. Read: SBP report reveals Pak\u2019s \u2018lowest in 5 years\u2019 current account deficit plummet In a public announcement on Thursday, Prime Minister Shehbaz Sharif said in a Tweet that \u201c &#8220;My decision to ban the import of luxury items will save the country precious foreign exchange. We will practice austerity &amp; financially stronger people must lead in this effort so that the less privileged among us do not have to bear this burden. &#8221; A four-page SRO598 of 2022 was released by the ministry of commerce for banned items. List of banned items A total of 800 items were banned, belonging to 33 categories, including food items, manufactured and CKD units, mobile phones, and confectionaries.&hellip;<\/p>\n","protected":false},"author":84,"featured_media":66133,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[52361,52363,52362,52364],"persona":[],"class_list":{"0":"post-86079","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-govt-imposes-ban-on-import-of-luxury-commodities-to-save-revenue","9":"tag-import-ban-items","10":"tag-import-ban-itwems","11":"tag-import-duties-on-mobiles","12":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Govt ban import of luxury commodities to save revenue- Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The federal government has imposed a ban on the import of luxury products to save much-needed revenue and to arrest the current account deficit\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/govt-ban-import-luxury-commodities.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt ban import of luxury commodities to save revenue- Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The federal government has imposed a ban on the import of luxury products to save much-needed revenue and to arrest the current account deficit\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/govt-ban-import-luxury-commodities.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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