40 Imported Products Banned in Pakistan: Pakistan Prohibits The Import Of Non-Essential ‘Goods’. As part of an urgent economic strategy to strengthen the country’s economy, the Pakistani government banned the import of more than three dozen non-essential luxury goods.
On Thursday, Maryam Aurangzeb, Minister of Information and Broadcasting, said, “There is a crisis, and Pakistanis must make sacrifices as part of the economic strategy.” This will, however, have an immediate effect on the country’s foreign reserves.
Pakistan will need to lessen its reliance on imports to achieve economic stability and prosperity. The government has been attempting to implement an export-oriented strategy to assist local industry and farmers while creating jobs. According to the Xinhua news agency, the event occurred as the Pakistani rupee fell in recent weeks, reaching a record low of 200 versus the US dollar in the inter-bank market on Thursday, falling 0.81 per cent from the previous day.
Economic analysts blame the Pakistani rupee’s collapse on mounting import bills, a widening current account deficit, and decreasing foreign currency reserves.
Why The Government Banned Imported Luxury Goods In Pakistan?
The ruling will affect automobiles, phones, cosmetics, cigarettes, food, clothing, and toiletry imports. After talks at the Ministry of Finance and Prime Minister’s Office, the federal cabinet agreed to a summary to limit imports via circulation.
“Banning luxury imports would save the government foreign currency.” We shall exercise austerity, and financially stronger individuals must lead this effort, so less fortunate people don’t have to carry the [previous] PTI government’s burden, PM Shehbaz Sharif tweeted. He said, “We’ll conquer any problems with resolution and commitment.”
The coalition government’s first significant policy move, which the WTO and IMF will review. The WTO urges members to maintain international commerce open but authorizes temporary restrictions to postpone a balance of payments crisis.
A Cabinet resolution prohibits imports from maintaining the balance of payments. It resolved not to ban imports in rupees or via land barter.
List of 40 Imported Products Banned in Pakistan
Here is the list of Imported Products that are banned in Pakistan to save Pakistan currency. Here is the products that are banned in Pakistan
Banned Imported Products List in Pakistan
- Mobile Phones
- Home Appliances.
- Fruits and Dry Fruits (except from Afghanistan)
- Crockery (local available)
- Private Weapons & Ammunition
- Shoes (local available)
- Chandeliers & Lighting
- Headphones & Loudspeakers
- Sauces, Ketchup etc.
- Doors and Window Frames
- Travelling Bags and Suitcases
- Sanitary ware
- Fish & Frozen Fish
- Carpets (except from Afghanistan)
- Preserved Fruits
- Tissue Paper(local available)
- Furniture(local available)
- Shampoos(local available)
- Confectionary(local available)
- Luxury mattresses & sleeping bags(local available)
- Jams & Jelly(local available)
- Cornflakes(local available)
- Bathroom ware / Toiletries(local available)
- Heaters / Blowers(local available)
- Sunglasses(local available)
- Kitchen ware(local available)
- Aerated water(local available)
- Frozen Meat(local available except few kinds such as Wagyu meat)
- Juices(local available)
- Pasta etc.(local available)
- Ice cream(local available)
- Cigarettes(local available)
- Shaving Goods(local available)
- Luxury Leather Apparel(local available)
- Musical Instruments
- Saloon items like hair dryers etc.(local available)
- Chocolates(local available)
What Will The Federal Cabinet See After The Economic Strategy?
The federal cabinet will revisit the import ban in two months.
The first real action by the coalition government seems insufficient. A Federal Board of Revenue official said: Prohibiting imports will cut the monthly import bill by $280 million to $300 million. Moreover, this saves 5% of the $6.6 billion monthly import bill.
The previous Pakistan Tehreek-e-Insaf administration aimed to limit imports to $55 billion for the current fiscal year. Still, they’re already at $65.5 billion after ten months.
The Commerce Ministry predicts imports will reach $77 billion by June. The $600 million savings is 5% of the yearly expenditure.
Premier Shehbaz has ordered a $2 billion-per-month import cap. The Ministry of Commerce and FBR planned to limit imports by $984 million a month via bans and higher tariffs. Miftah Ismail opposed import restrictions and wanted to boost regulatory taxes.
The prime minister rejected a suggestion to impose regulatory taxes and instead banned the import of 41 commodities and halved imports of CKD automobiles and SKD mobile phones.
The Engineering Development Board and the State Bank of Pakistan will enforce quota limitations on CKD automobiles and SKD mobiles, say authorities.
Under the Exports and Imports (Control) Act 1950, the federal government may ban or limit the import and export of any product or class of commodities by an official gazette order. The suggested list of non-essential items may be prohibited by adding them to Appendix-A of the IPO, 2022.
The prohibition takes effect from the date of the notice, which the Ministry of Commerce published immediately. Goods for which the bill of lading or irreversible letter of credit was issued before announcing an amendment order are exempt from the prohibition.
The Following Analysis on Trade and Tariff (GATT) 1994 allows WTO members to ban or limit imports of any commodity for human, animal, and plant health and safety, environmental, moral, religious, and security concerns, and prevent the balance of payments crises.
The Finance Ministry notified the IMF about the prohibition.
The State Bank’s currency reserves fell from $145 million to $10.16 billion on May 13, 2022.
Mobile phones in CBU form will be outlawed, while SKD kits will be halved.
The cabinet also banned CBU appliances, cosmetics, fruit and dried fruits, groceries, pet food (cat and dog food), personal arms and ammo, shoes, chandeliers and lights, headphones and loudspeakers, decorative pieces, sauces and ketchup.
Doors and window frames, luggage, sanitary items, fish, and carpets (except those from Afghanistan). Preserved fruits, tissues, furnishings, shampoos, vehicles, candy, luxury beds and air mattresses. Oxygenated water, frozen meat, fluids, pasta, desserts, cigarette, and shaving foam.
Pakistan Government banned top 10 product imports of Pakistan from China, Europe, Canada, USA and Iran. In this post we have list the major imports of pakistan 2022 those has been banned in Pakistan now.