Published by
Al-Araby
Al-Araby
Pakistan’s top economic decision-making body on Thursday lifted a two-month old ban on the import of “non-essential” goods, citing concerns from trading partners and the impact the curbs have had on supply chains and the domestic retail industry. The move comes despite falling foreign exchange reserves, a depreciating currency and record imports in June. Pakistan in May imposed a ban on the import of all “non-essential luxury goods” citing a widening current account deficit, and also in a bid to stabilize an overheating and struggling economy hit by a rise in global commodity prices. “In light…