ECC RATIFIES DECISION TO LIFT BAN ON LUXURY ITEMS IMPORT (2022)

ECC RATIFIES DECISION TO LIFT BAN ON LUXURY ITEMS IMPORT (2022)

 ISLAMABAD:

 Economic Coordination Committee (ECC) on Friday ratified the federal government’s choice to carry the ban on the import of non-essential and luxurious items.

The selection was once taken at some point of a assembly held in Islamabad with Finance Minister Miftah Ismail in the chair.

The Economic Coordination Committee has additionally encouraged the launch of these held up consignments that arrived after thirtieth June up to thirty first of July with surcharge payment.

Ministry of Commerce submitted that a ban used to be imposed on import of about 33 classes of items overlaying extra than 860 merchandise on nineteenth of May this year.  The ban raised serious issues amongst buying and selling companions and it used to be impacting provide chains and the home retail industry.

Read more: FEDERAL GOVT LIFTS BAN ON IMPORT OF LUXURY ITEMS

On the suggestion of Ministry of Energy, the ECC authorized to knock out new LNG terminals and related services from utility of Third-Party-Access and allowed modification in article 6.2(a) of LNG policy, 2011.

On a precis submitted via Ministry of National Food Security and Research on allocation of 300,000 metric heaps of wheat for Utility Stores Corporation, the ECC directed the ministry for resubmission of precis after incorporating whole important points of incidental expenses and remarks of Finance Division.