ECC ratifies decision to lift ban on luxury items import

Ban was affecting trading partners and also impacting supply chains, domestic retail industry

ISLAMABAD: The Economic Coordination Committee (ECC) on Friday ratified the federal government’s decision to lift the ban on the import of non-essential and luxury items.

The decision was taken during a meeting held in Islamabad with Finance Minister Miftah Ismail in the chair.

Ministry of Commerce submitted that the ban was imposed on import of about 33 categories of goods covering more than 860 products on May 19. They said that the ban raised serious concerns among trading partners and was impacting supply chains as well as the domestic retail industry.

The committee while ratifying the decision to lift the ban also recommended the release of consignments that arrived after June 30 up to July 31 with surcharge payment.

 

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