Decision to Ban Import of Mobile Phones & CKD Cars Reversed

The Federal Government has reportedly reserved the decision regarding the ban on the import of mobile phones and Completely Knocked Down (CKD) cars in the country. In a bid to control the rising import bill and recover the current account deficit, the Federal Government announced a ban on the import of 38 products in different categories, including mobile phones, automobiles, and food items.

Ban Mobile Phones, Import Mobile Phones, CKD Cars — Decision to Ban Import of Mobile Phones & CKD Cars Reversed

However, the Federal Government has reportedly reversed its decision to ban import of mobile phones and Completely Knocked Down (CKD) vehicles. reported Dawn News. According to the details, the Federal Government has instead opted to double the import duties and taxes levied on these products, instead of imposing an outright ban on their import.

The decision to ban import of luxury and non-essential items by the government comes as the Pakistani Rupee continues its downward trend against the US Dollar (USD to PKR). The local currency has depreciated to Rs. 200.14 against the greenback with a total fall of Rs. 16.05 since 1^st April 2022.

The ban on import of these luxury items will help save the country around $300 million each month. However, the impact will not be witnessed in the current fiscal year, which ends next month. The benefits of this decision will come to the fore over the next financial year (FY22-23).