Federal Government finally decides to lift the 2-month-long ban on the import of goods with a few exceptions.
The Economic Coordination Committee (ECC) of the Cabinet approved the lifting of the ban on import goods on Thursday (29th July). The ban has been relaxed completely except on assembled cars, mobile phones, and home appliances.
Pakistan banned the import of luxury items on May 9th which covered a category of 33 goods and more than 860 product lines.
According to the Commerce Ministry, the import of the banned items has decreased by more than 69% and went from $400 million to $124 million. The main contribution in this number came from the auto and mobile phone kits sector covering about $218 million out of the total $400 million of the reduced import value. The remaining 21% reduction came from 810 tariff lines.
The ECC also allowed buying 200,000 metric tons of wheat at $407.5 per ton price.
