ISLAMABAD: Minister for Finance Miftah Ismail has announced lifting of ban on import of non-essential and luxury goods.
Speaking at a news conference here in Islamabad on Thursday, he said the Regulatory Duties will be enhanced manifold to discourage import of such products. The Finance Minister said the duties being imposed would not let these commodities to enter into Pakistan as finished goods.
He said Regulatory Duties would be enhanced three times or to maximum possible level and can go even up to 400 to 600 percent or more. Miftah Ismael said Pakistan is not having many dollars to spend on import of luxury items and the existing resources would be utilized to provide the people of the country with flour, wheat, cotton, edible oil instead of I-phones or luxury vehicles.