The latest reports say that Prime Minister Shehbaz Sharif has decided to completely ban import of unnecessary and luxury items.
ISLAMABAD: (UrduPoint/Pakiatan Point News-May 18th, 2022) The Federal government has planned to make tough decisions and is expected to increase regulatory duty on several items.
The latest reports say that regulatory duty on imported tires is likely to go up by 50 percent. They say a 40 percent increase is expected in duty on imported tiles while regulatory duty on machinery will be up by 10% and home appliances by 50%.
Doubling duty is expected on mobile phones and cars above 1800cc engines.
The reports say that these decisions have been taken by Prime Minister Shehbaz Sharif in a meeting in Islamabad. The PM decided to completely ban import of unnecessary and luxury items.
PM Shehbaz Sharif said that government would not allow to spend precious foreign exchange reserves on such items.
