ECC decides to lift ban on import of non-essential, luxury items

Industry

Economic Coordination Committee (ECC) has decided to lift ban on import of non-essential and luxury items.

The decision to this effect was taken during a meeting held in Islamabad on Friday with Finance Minister Miftah Ismail in the chair.

The ECC recommended release of those held up consignments arrived after 30th June up to 31st of July with payment of surcharge.

Ministry of Commerce submitted that a ban was imposed on import of about 33 categories of goods covering more than 860 products on 19th of May this year. The ban raised serious concerns by trading partners and it was impacting supply chains and domestic retail industry.

On the recommendation of Ministry of Energy, the ECC approved to exclude new LNG terminals and associated facilities from application of Third-Party-Access and allowed amendment in article 6.2(a) of LNG policy, 2011.

On a summary submitted by Ministry of National Food Security and Research on allocation of 300,000 metric tons of wheat for Utility Stores Corporation, the ECC directed the ministry for resubmission of summary after incorporating complete details of incidental charges and comments of Finance Division.

Source: Radio Pakistan