import restrictions Pakistan 2022
According to a statement from the State Bank of Pakistan (SBP), it is to informed that the Govt. is going to lift the ban on imported items from 2nd January 2023. In this regard, a circular has been issued to all the authorized dealers in Pakistan.
All the dealers in Pakistan know about the import restrictions from the Govt. of Pakistan on 20th May 2022. It is decided by the Govt. to lift the ban on imported and luxury items from January 02, 2023.
list of banned import items in pakistan 2022
This year the Govt. of Pakistan decided to put a ban on the import of luxury, automobiles and mobile phones due to critical economical and foreign reserves conditions. Govt. of Pakistan put a ban on these items to fulfill the IMF conditions.
- Mobile phones
- Luxury cars
- Decoration pieces
5 imports of Pakistan 2022
The imports of Pakistan remain high as compared to exports. This is the big reason behind the deficiency of foreign reserves. This ban was put on the request of the State Bank of Pakistan to level or minimize imports in Pakistan. According to the news, this ban on imported items put a great difference within two months. Businessmen in Pakistan that are involved in import business now can import items after the declaration of the state bank of Pakistan. For more details, you may visit the official website of the State bank of Pakistan www.sbp.org.pk
main imports of Pakistan
There is a long list of imports of Pakistan but here we discuss some main imports of Pakistan like palm oil, crude oil, raw cotton, refined petroleum, machinery, electronic equipment, mobile phones, organic chemicals, mineral fuels, and oils.
Pakistan import data
The import from Pakistan is increasing every year according to the data of the State Bank of Pakistan. The foreign reserves decrease due to the high rate of import items in Pakistan. The Govt. provides maximum facilities to the exporter but the export is low compared to the import of Pakistan.
import and export of Pakistan 2022
The Govt. of Pakistan through a circular in May 2022 tries to level the imports and export and this caused the low import during these seven months. The Govt. should courage and provide more facilities to the exporter so that the export may compete with the import of Pakistan. This is the way the foreign reserves increases and the economy may stable in near future.
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