Pakistan decides to lift ban on imported goods

ISLAMABAD: Pakistan on Thursday decided to lift the ban imposed on imported goods except for Completely Built Unit (CBU) of motor vehicles, mobile phones and home appliances. A review meeting was held to review the ban after two months owing to serious concerns raised by major trading partners on the imposition of ban and considering […]

by Anjum Shah

Suzuki Motors warns plant shutdown in Pakistan

Jul 28

Automotive, Corporate, Top stories

Suzuki Motors warns plant shutdown in Pakistan

KARACHI: Suzuki Motors Co. Ltd. on Thursday warned shutting down its production plant in Pakistan due to import restrictions. In a communication sent to Pakistan Stock Exchange (PSX), the auto manufacturer said that State Bank of Pakistan (SBP) had introduced a mechanism for prior approval for import under HS Code 8703 category (including CKD) vide […]

by Hamza Shah

15% surcharge imposed for clearance of banned items

Jul 26

Finance, Ports and Shipping, Top stories

15% surcharge imposed for clearance of banned items

ISLAMABAD: Pakistan has imposed surcharge up to 15 per cent for clearance of consignments stuck up at ports and were banned for saving foreign exchange. The ministry of commerce issued an office memorandum dated July 22, 2022 pursuance to the federal cabinet decision to release the consignments of prohibited items. READ MORE: Pakistan allows release […]

by Anjum Shah

Pakistan allows release of banned items stuck up at ports

Jul 6

Finance, Ports and Shipping, Top stories

Pakistan allows release of banned items stuck up at ports

ISLAMABAD: Pakistan Tuesday allowed one-time release of consignment carrying imported goods that were banned by the government on May 19, 2022 and stuck up at ports. The country through SRO 598(I)/2022 imposed a ban on import of luxury and non-essential items in order to discourage outflow of dollars and support balance of payment. Due to […]

by Anjum Shah

KCCI demands release of stuck up containers

Jul 4

Ports and Shipping, Trade & Industry

KCCI demands release of stuck up containers

Karachi Chamber of Commerce and Industry (KCCI) on Monday demanded the government of releasing containers imported goods that were banned through SRO 598(I)/2022. The chamber in a statement strongly denounced the non-clearance of containers at the ports subsequent to the ban imposed on luxury items. READ MORE: KCCI demands implementation of Riba free banking The […]

by Hamza Shah

Pakistan allows conditional import of CBU vehicles

Jun 2

Automotive

Pakistan allows conditional import of CBU vehicles

ISLAMABAD: Pakistan has allowed conditional import of Completely Built Unit (CBU) motor vehicles, which have been banned through SRO 598(I)/2022. The country on May 19, 2022 banned import of luxury and non-essential items in order to save foreign exchange and support the local currency, which depreciated massively. READ MORE: Raw materials excluded from import banned […]

by Anjum Shah

Raw materials excluded from import banned items list

May 31

Finance, Top stories

Raw materials excluded from import banned items list

ISLAMABAD: The ministry of commerce on Monday excluded raw materials from the list of items, which were banned through SRO 598(I)/2022. The ministry issued an office memorandum to issue clarification with regard to the SRO 598(I)/2022 dated May 19, 2022. Through the SRO 598(I)/2022, the federal government imposed ban on import of certain luxury and […]

by Anjum Shah