ISLAMABAD: The federal government has allowed with penalty surcharge of 100% of assessed to release of imported items that have reached the ports after 30th June.
According to particulars, the federal government has allowed the release of all imported items and hit up to 100 percent fines on goods that had reached ports by the end of July despite restrictions.
An announcement in this regard also issued by Ministry of Commerce after federal cabinet’s approval. The government has allowed the release of imported items vehicles, mobile phones, home appliances and other items with a penalty surcharge of 100%.
The statement specified that other imported goods allowed on payment of surcharge up to 35%. “Items arrived after June 30 and up to July 31 released with penalty surcharge of 25%,” it added.
Previously on August 18, the federal government lifted the ban on the import of non-essential and luxury items, three months after the restriction imposed.
Speaking a press conference, Finance Minister Miftah Ismail publicized that the federal government lifting the ban. Noting that the restrictions imposed in line with the International Monetary Fund’s (IMF) demands.
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In May, the government exposed an emergency economic plan and banned the imports of dozens of non-essential luxury items.
Information Minister Marriyum Aurangzeb conducted a press conference in Islamabad. To publicize the economic plan of the PML-N government to cope with the financial challenges.