Saturday, 21 May, 2022 I 19 Shawwal, 1443 I Rs 15.00 I Vol XII No 321 I 12 Pages I Lahore Edition
Ban on luxury goods import to save $4B, says shehBaz g
ProPoses CPeC to be a trilateral arrangement between China, Pakistan and turkey KARACHI/ISLAMABAD
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Staff RepoRteRS
rime minister shehbaz sharif on Friday depended his governmet decsion to ban import of luxury and non-essential items, cliaming that the ban will not only help save $4 billion but also support the local industry. “one thing is very much clear that objective behind the ban on import of luxury item – for a specific time – is to save foreign exchange and bring stability," the prime minister went on to say and added that this strict step will held save the country $4 billion, which is like earning $4 billion.” Prime minister shehbaz sharif was addressing business community mem-
bers and representatives during his visit to karachi. shehbaz said the import ban would support the local industry, underining the need for capping prices of those items under a certain formula. the prime minister sought business community suggestions to tackle the prevailing economic situation. drawing a comparison, Pm shehbaz infromed that in 2018, the dollar rate stood at rs 115, which jumped to rs 189 during three and a half years of the previous government. “when i assumed office of the prime minister, dollar was at rs 189 and this rs60-65 rise is not our fault,” he remarked. he claimed that having perceived no-confidence motion success, the previous Pti government reduced the
Pol prices although the country was faced with huge debt burden. "the ousted government neither provided relief to the common man in sugar, flour or edible oil, nor executed any agriculture or public welfare project with serious intention." Pm shehbaz said despite unprecedented support from a national institution, the previous government could not perform, and recalled the mega projects executed during the Pml-n government, including CPeC, end to load-shedding, and installation of wind, solar, and lng power plants. he said the nation wanted to know as to where the huge loans were spent and whether the excessive load-shedding was due to political chaos or corruption.
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