The coalition government recently announced a complete ban on the import of 41 items for two months to tackle the present economic crises. This ban is likely to impact bring down the import bill by $600 million.
This move is an effort to focus on the consumption behaviour of the country’s elite. The banned goods include mobile phones and cars that make up the largest share of the import bill. Such imports result in trade deficits and a weaker domestic currency. Since the Pakistani rupee has plummeted to Rs200 against the US dollar, it is evident that such policies are crucial for the country’s economic situation right now and the next couple of months will define Pakistan’s fate.
Sarbaz Palijo
Hyderabad
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