BusinessGovt Enforces Ban on Import of Luxury Items

Govt Enforces Ban on Import of Luxury Items

ISLAMABAD: In arrange to control the nonstop devaluation of the rupee, the federal government on Wednesday chosen to force a total boycott on the import of non-essential and luxury items, ARY News detailed citing sources.

Well-informed sources told ARY News that Prime Minister Shehbaz Sharif has forced a boycott on the import of non-essential things that are not utilized by the common man.

The choice was taken amid a high-level assembly held beneath the chairmanship of Prime Minister Shehbaz Sharif.

The prime minister supposedly banned the moment of luxury vehicles and other non-essential things, counting beauty care products, they said, including that the government moreover issued enlightening in this respect.

Govt Imposes Ban on Import of Luxury Items

The US dollar proceeded its rising streak against the rupee.

On Wednesday as the greenback come to an all-time tall of Rs200 within the open market.

Concurring to the Forex Association of Pakistan (FAP), the greenback picked up Rs1.68 within the interbank market from the past day’s near of Rs196.50 and climbed to Rs197.66.

When the PM Shehbaz Sharif-led coalition government took over on April 11, the dollar was esteemed at Rs182.3.

Since at that point, the rupee has lost Rs11.4 or 6.2 per cent of its esteem.

IMF talks

The International Monetary Fund (IMF) will start talks with Pakistani authorities on Wednesday over the discharge of funds.

The Pakistani delegation has come to Doha to arrange with IMF to audit the financial alleviation program for the nation.

Arrangements between Pakistan and the IMF for the 7th audit of the financial help program for the nation are planned to begin on May 18.

The shape of the up and coming budget will too be talked about within the transactions.

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