ISLAMABAD: The federal government on Wednesday decided to impose a ban on the import of unnecessary and luxury items to deal with the country’s unsettling economic woes.
According to the details, the decision was taken during a high-level meeting held under the chairmanship of Prime Minister Shehbaz Sharif in which the economic situation of the country was reviewed.
“Precious foreign exchange would not be spent on import of unnecessary and luxury items,” the premier said.
Participants of the forum agreed to make tough decisions to deal with the depleting exchange reserves crisis and the falling rupee, which reached nearly Rs200 in the inter-bank market on Wednesday.
The business community had also urged the government to immediately put curbs on the import of luxury goods as the country is heading towards economic chaos.