ISLAMABAD: Federal Minister for Finance and Revenue Miftah Ismail on Saturday said the ban on import of luxury items would continue till September, as it was in the interest of national economy.
He however said import of only export supporting items could be considered to be allowed. He stated this while talking to media persons during his visit to the Karachi Chamber of Commerce and Industry (KCCI) here.
Miftah Ismail said the national economy was moving in the right direction because of prudent policies of the government and steps were being taken to stabilise it.
The finance minister assured that problems of business community would be resolved on priority basis. He urged the business community to extend cooperation to the government in its efforts to stabilise the national economy.
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He said the government had to take tough decisions of withdrawing subsidies on petroleum products and power to bring the national economy on the right track.
Finance Minister Miftah Ismail said that the federal government had made tough decisions and saved the country from going default. He further said that the country was experiencing an incredible challenging environment.
The federal minister said that he was never willing to go to the International Monetary Fund (IMF) for loan but the circumstances compelled him to do so.
He said the government was giving petrol subsidy of $500 million and did not export anything.
On August 5, Miftah had said, “Now the world does not even give us money.”
In a statement, he had said, “We need to think of lasting development for the country. Debt is required to reduce the budget deficit. People mind it when we imposed super tax.”
He had said collection of sales tax was enough, all the people were in the tax net. The Ministry of Finance had suggested to impose Rs3,000 on traders, he had said.
He had said it’s no secret that the country had lagged behind, so, it’s imperative that we collected tax in the country. “We need to increase exports of the country,” he had said.
