Pakistan prohibited the import of certain luxury products on Thursday as part of its ’emergency economic plan,’ as the country’s economic crisis worsens due to low foreign reserves and a falling Pakistani rupee. Prime Minister Shehbaz Sharif announced the move on Twitter, claiming that it will ‘save the country precious foreign money’.
‘My decision to prohibit the import of luxury products would save the country valuable foreign currency. We shall exercise austerity, and the financially stronger among us must lead this effort so that the less privileged among us do not have to endure the burden put on them by the PTI government,’ he stated. The move comes as the dollar has risen dramatically against the Pakistani rupee in recent weeks as a result of the country’s soaring import bill, widening current account deficit, and diminishing foreign exchange reserves.
On Thursday, the dollar broke all records and rocketed to Rs 200 in the interbank market. Earlier, at a news conference on Thursday, Information Minister Marriyum Aurangzeb said that it was ‘an emergency scenario’ and that Pakistanis would have to make sacrifices under the economic plan, adding that the impact of these prohibitions would be roughly $6 billion.
Among the list of banned items include;
Fruits and dry fruits (except Afghanistan)
Private weapons and ammunition
Chandeliers and lighting (except energy savers)
Headphones and loudspeakers
Doors and window frames
Traveling bags and suitcases
Fish and frozen fish
Carpets (except Afghanistan)
Luxury mattresses and sleeping bags
Jams and jelly
Luxury leather apparel
Salon items like hairdryers etc.