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Ban on import of luxury items will save precious foreign exchange: PM Shehbaz

The premier says that the attempt is to reduce the burden that the PTI government has inflicted on them
Published 19 May, 2022 08:30pm
<p>File photo</p>

File photo

Prime Minister Shehbaz Sharif on Thursday said that his decision to ban the import of luxury items will save the country’s precious foreign exchange.

The Prime Minister in a tweet said that as they would practice austerity, the financially stronger people must lead in the effort so that the less privileged among them did not have to bear the burden inflicted on them by the PTI government.

The premier in another tweet said that joint efforts were needed to overcome the challenges.

Earlier in the day, Federal Information Minister Marriyum Aurangzeb during a press conference announced that the government has banned the import of non-essential and luxury items to control inflation, stabilize foreign exchange reserves, and reduce the country’s reliance on imports.

She said that nation would have to render sacrifices for the revival of the economy of the country.

The minister said that the government has formulated an economic plan to take the country out of the current financial crisis, adding that this would impact the country’s foreign reserves.

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economic crisis

Inflation

PM Shehbaz Sharif

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