Pakistan information minister on Thursday announced a ban on import of All non-essential luxury goods to meet what he described as “economic emergencies”.
Pakistan current Escalation of the account deficit out of Its foreign exchange reserves declined while the Pakistani rupee fell to its lowest historical levels against United State dollar.
“All that unnecessary luxury items Which is not used by the wider publica complete Ban has been imposed on Minister Marium Aurangzeb told reporters.
She said the measures were aimed at tackling the financial instability she blamed on Previous government of Prime Minister Imran Khan who ousted in Distrust vote last Month over shipment of mishandling the country economy.
“There is an emergency in She said.
between the host of The imports that will be banned are cars and cell phones, home Hardware and cosmetics.
It was not immediately clear how The ban will be long in placeBut Aurangzeb said so with Other financial measures it would be help save critical foreign exchange reserves for The next two months. . said steps It will save $6 billion annually.
Pakistan’s main imports are fuel, edible oil and pulses, which will remain unaffected.
Some predictions you see in Pakistan current This account is incompetent financial year It amounts to about 17 billion dollars or over 4.5% of Gross Domestic Product (GDP) with Inflated import bill global Goods’ prices.
Pakistan’s foreign currency reserves have declined Quickly: the money held by the central bank $6 billion out of $16.3 billion in the end of February to just over 10 billion dollars in mayo.
Pakistani Finance team he is in talks with International Monetary Fund (IMF) in The Qatari capital, Doha, resumes funding program I started in 2019 but stopped over Pakistan implementation of policy procedures required to receive money.
