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FCCI welcomes lifting of ban on import of non-essential, luxury items

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FAISALABAD: Faisalabad Chamber of Commerce and Industry president Atif Munir Sheikh on Friday welcomed lifting of ban on import of non-essential and luxury items by Federal Finance Minister Miftah Ismail.

He mentioned that the choice wouldn’t solely combine Pakistan with the worldwide neighborhood but in addition exacerbate financial actions inside the nation. He mentioned that the Ministry of Commerce had a web based consultative assembly just some days in the past to debate this scorching subject and in it, he had supported the lifting of the ban as now we have to outlive within the international setting.

He mentioned that the federal government had taken the correct step by proposing hefty regulatory duties together with gross sales tax and customized duties and so forth as a substitute of clamping a ban on its imports. “This step would indirectly discourage the import of luxury items”, he added. He mentioned that the federal government was already giving high precedence to the import of uncooked materials and so as to save home trade, the import of completed merchandise can be discouraged by way of regulatory measures.

Atif Munir Sheikh mentioned that the nation was passing by way of a crucial stage and the duty to pick import of important or non-essential items had been put on the enterprise neighborhood.



Source: www.thenews.com.pk

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