Import ban on ‘non-essential and luxury items’ lifted

Khaleej Times

ISLAMABAD: The government has lifted a ban imposed in May on the import of ‘non-essential and luxury items’.

The government increased dealers’ commission on the sale of petroleum products by up to an unprecedented 70 percent. The committee also approved tenders for 200,000 tonnes of wheat at about $408 a tonne and allowed $11.6 million goodwill compensation for the Chinese casualties at the Dasu hydropower project in July last year.

The meeting approved an increase of 70 percent in the dealers’ commission on the sale of high-speed diesel (HSD) to Rs7 per litre from Rs4.13 at present. Likewise, it also increased the dealers’ commission on the sale of petrol by 43 percent to Rs7 instead of Rs4.90 per litre at present.

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This is the steepest increase in margins allowed in one go in the country. The meeting was informed that dealers’ margin on the sale of HSD and petrol was also increased by more than 25 percent with effect from December 2021. 

The ECC also lifted the ban on imported goods except for completed built units (CBUs) of automobiles, mobile phones, and home appliances. The meeting was told the ban had helped cut the imports of banned items, which shrank by around 70 percent from $399.4 million to $123.9 million between May 20 and July 19.

 

 

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