The monthly impact of the ban on the import of 38 non-essential luxury items under an emergency economic plan announced on Thursday will merely be $247 million.
The ban was prompted by the country’s rising import bill and growing current account deficit. The foreign exchange reserves held by the State Bank of Pakistan (SBP) have plummeted in recent months and according to the latest weekly figures they currently stand at $10.16 billion, corresponding to an import cover of just 1.52 months.
According to official documents the ban on the import of the non-essential luxury items will have an impact of $247 million on the country’s import bill. On the contrary, according to a Reuters report, between March to June, Pakistan is expected to spend a whopping $2 billion on subsidies that have yet to be withdrawn.
The breakdown of the savings owing to the ban is given below:
| Sr # | Item | Monthly Impact (in million) |
| 1 | Automobiles (CBU) | $18.4 |
| Automobiles (CKD)* | $66.25 (50 percent) | |
| 2 | Mobile Phones (CBU) | $27.5 |
| Mobile Phones (CKD)* | $76.1 (50 percent) | |
| 3 | Home appliances | $5.12 |
| 4 | Fruits and dry fruits (except from Afghanistan) | $19.49 |
| 5 | Crockery | $3.98 |
| 6 | Private weapons and ammunition | $3.23 |
| 7 | Shoes | $2.85 |
| 8 | Chandeliers and lighting (except energy savers) | $2.57 |
| 9 | Headphones and loudspeakers | $2.26 |
| 10 | Sauces | $1.87 |
| 11 | Doors and window frames | $1.64 |
| 12 | Travelling bags and suitcases | $1.6 |
| 13 | Sanitary ware | $1.26 |
| 14 | Fish and frozen fish | $1.25 |
| 15 | Carpets (except from Afghanistan) | $1.17 |
| 16 | Preserved fruits | $1.14 |
| 17 | Tissue paper | $0.94 |
| 18 | Furniture | $0.81 |
| 19 | Shampoos | $0.76 |
| 20 | Confectionary | $0.58 |
| 21 | Luxury mattresses and sleeping bags | $0.16 |
| 22 | Jams and jelly | $0.46 |
| 23 | Cornflakes | $0.45 |
| 24 | Toiletries | $0.4 |
| 25 | Heaters, blowers | $0.38 |
| 26 | Sunglasses | $0.21 |
| 27 | Kitchen ware | $0.31 |
| 28 | Aerated water | $0.29 |
| 29 | Frozen meat | $0.28 |
| 30 | Juices | $0.25 |
| 31 | Pasta | $0.2 |
| 32 | Ice cream | $0.19 |
| 33 | Cigarettes | $0.16 |
| 34 | Shaving goods | $0.12 |
| 35 | Luxury leather apparel | $0.08 |
| 36 | Musical instruments | $0.07 |
| 37 | Salon items like hair dryers | $1.06 |
| 38 | Chocolates | $0.97 |
| Total | $246.81 | |
| *The imports of completely knocked down (CKD) cars and mobile phone kits would be allowed but by half of the last month’s imports | ||
The ban on the import of mobile phones and automobiles will provide a major chunk of monthly savings totaling $188.25 million. The ban on the imports of fruits and dry fruits will result in monthly savings of $19.49 million. The rest of the 35 items combined will save the country $114.92 million.
The ban on imports will also dent the revenue at the import stage by Rs. 35 billion.
Any dollar saved is worthy. Maybe it’s “merely” for Imran.
Such disasterous steps weren’t required couple of months ago. Its all because of imported and impotent government with experienced team that things have got out of control.
247 per month will be over 2 billion annually.
it’s almost 3 billion yearly. i support this ban.
Bogus information. Dollar is precious for this country.
Pro pakistan in not Pro Pakistan it Pro pti.
country was fine before such steps were necessary. whats turdy is that you still support these thugs.
At the moment any dollar saved is of worth. See the annual figures of importing the cars into the country. On other side it will support the local manufacturing units.
Why do you say it’s pro pti?
We need to focus on Industry development as it is always the backbone of the country and only permanent solution of rupee stabilization.
This may be not much but it’s symbolic importance is worth a trillion dollars. Ban on imports and Austerity is the most needed reform we need in Pakistan today, before any exports etc.
So many patwaris here…
I suggest you to burn your calories in PTI long march..