ISLAMABAD: The federal government led by Pakistan Muslim League Nawaz (PML-N) has unveiled an emergency economic plan and banned the imports of dozens of non-essential luxury items, ARY News reported on Thursday.
Information Minister Marriyum Aurangzeb conducted a press conference in Islamabad today to announce the economic plan of the PML-N government to cope with the financial challenges.
She said that Pakistanis will have to sacrifice for the revival of the national economy. She said that the economic growth was 6:00 per cent in 2018 and the economy was destroyed during the last four years.
She blamed former prime minister Imran Khan accepted the conditions of the International Monetary Fund (IMF) which increased the inflation, whereas, the debts reached up to Rs47,000 billion from Rs27,000 billion.
“Government has decided to ban the imports of non-essential luxury items.”
The decision on general elections will be taken by the PML-N and its coalition partners.
The ban was imposed on the imports of cars, mobile phones, weapons, shoes, sanitary ware, furniture, make-up, shampoo, luxury bags, kitchen items, dry fruits, decoration items, home appliances, frozen meat, tissue papers, crockery, fish, sunglasses, jam/jelly items, sleeping bags and others.
Regarding the import ban, the minister said that the prices of those items will be increased whose LCs [letters of credit] have been opened. The concerned institutions including the Federal Board of Revenue (FBR) and the State Bank of Pakistan (SBP) will monitor and take action over violations, she added.
Marriyum Aurangzeb said that those who are found involved in selling smuggled and LC items at a higher price will face strict penalties.
‘Import ban to save foreign exchange’
Prime Minister Shehbaz Sharif said in a Twitter message, “My decision to ban import of luxury items will save the country precious foreign exchange. We will practice austerity & financially stronger people must lead in this effort so that the less privileged among us do not have to bear this burden inflicted on them by the PTI govt.”
He added, “Together we will overcome all the challenges with resolve and determination, InshaAllah!”
My decision to ban import of luxury items will save the country precious foreign exchange. We will practice austerity & financially stronger people must lead in this effort so that the less privileged among us do not have to bear this burden inflicted on them by the PTI govt.
— Shehbaz Sharif (@CMShehbaz) May 19, 2022
PML-N blames PTI
After failing to unveil an economic plan for a month, the PML-N government blamed the previous PTI government for poor performance to improve the national economy. The US dollar rate is currently standing at Rs204 after an increase of Rs22 within a month.
Marriyum Aurangzeb said that the inflation rate is increased from 2.3 per cent to 16 per cent due to the PTI as the previous government acquired a historic amount of loans. She alleged that ex-PM Imran Khan signed tough conditions of the IMF which increased the financial burden of the nationals.
Fresh elections
The information minister said that the PML-N government will decide the schedule of the fresh elections but not the PTI. The decision on general elections will be taken by the PML-N and its coalition partners.
She said that Imran Khan had gotten a chance to organise fresh elections but he chose to save his rulership and used his powers to send his political opponents to jails.
“PML-N and its coalition partners hold power to set any deadline and election. General polls will not be held on the orders of anyone else. Elections will be organised in the country whenever we, allies and the election commission decide for it.
The ban was imposed on the imports of cars, mobile phones, weapons, shoes, sanitary ware, furniture, make-up, shampoo, luxury bags, kitchen items, dry fruits, decoration items, home appliances, frozen meat, tissue papers, crockery, fish, sunglasses, jam/jelly items, sleeping bags and others.
Aurangzeb alleged that Imran Khan had used the National Assembly (NA) speaker for the constitutional violations. She said that the nation is tired of Imran Khan’s lies.
She added that the present government did not get the votes of the turncoats. She said that the theft of Toshakhana’s state gifts could not be neglected. The PTI government had approved the hefty hike in medicine prices by up to 500 per cent.
The information reiterated that the final decision regarding the fresh elections will be taken by the PML-N government and its allies.
