The federal government has decided to ban the import of luxury items to control the mounting trade deficit which has recorded $65.5 billion in the first ten months of the current fiscal year.
Sources said that the Federal Board of Revenue has almost finalized the banned item list and the government will be able to save Rs2.5 billion to Rs3 billion on yearly basis by banning items.
The list includes used vehicles, expensive luxury phones, diapers, sanitary towels, disposable plastic boxes, non-cellular rubber sheet and mobile accessories as well as glass protector (tempered).
The items also includes cigars, branded heavy motorcycles, tractor parts, pistols, wheelers cargo loaders, LED televisions, bicycle non geared, flavor cigarettes and frozen fish.
In addition egg powder, almond in shell cover, dry coconut, gum Arabic, gum copal, broomstick keels, inedible tallow, olive oil, soap, gum stock, cocoa powder, toys, dolls, festive snow spray and zippers are also banned.
TFT screen, android tv box, car stereo player, mobile accessory, virtually reality CCTV analog, modern Wifi, electric oven and laptop battery are also likely to be banned, sources added.
The law should also be implemented on all government officials beurocrates they are also bind to follow the rules as their fellow citizens rather then bring along with them when they are on their foreign tours
It seems these strategic bans have been placed to cripple the economy rather than help it. How does increasing RD on CKD units help the economy. Rather it pushes the costs to CAD even higher. Seems to be not a single person has an economic acumen but are hell bent on shaping the future.