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The government imposes a ‘complete ban’ on import of luxury items

ISLAMABAD:

federal government on Wednesday decided to introduce complete ban on import of uselessness and luxury items to deal with with alarming economic problems of the country, according to Express news.

decision adopted at a high-level meeting chaired by of Prime Minister Shehbaz Sharif in what is the economic situation of country has been revised.

“Precious foreign currency will not be spent on import of uselessness and luxury items,” the prime minister said.

Members of the forum agreed to make it tough decisions to deal with with a crisis of depletion of foreign exchange reserves and a depreciation of the rupee, which reached almost 200 rupees. in inter-bank market on Wednesday.

business community It was also urged government put up curbs on import of luxury goods as the country heads towards economic chaos.

Read: Prime Minister Confers with allies on worrisome economic problems

“Pakistan is headed for an economic crisis,” the Employers’ Federation warned. of President of Pakistan (EFP) Ismail Suttar during a conversation with Express Tribune.

Deteriorating balance of The payment situation, high inflation, depletion of foreign exchange reserves and political uncertainty have left the country in a worrying economic situation, he said.

It used to be also reported that government and its allies decided to implement a “tough decisions” rule the country out of This current economic problems and ensure long-term stability that allows coalition to see remaining tenure of in government.

Multiple sources in the ruling Pakistan Muslim League-Nawaz (PML-N), as well as its coalition partners, said Express Tribune what decision He was taken in Meeting at the Prime Minister’s House.

The meeting chaired by Prime Minister Shehbaz was attended by leaders of in coalition partners. Sources said they finally agreed that the bold decisions were even if they were unpopular. should immediately take control of the country out of in current political and economic crisis.

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Derrick Santistevan
Derrick Santistevan
Derrick is the Researcher at World Weekly News. He tries to find the latest things going around in our world and share it with our readers.

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