ISLAMABAD - United States (US) has expressed concerns regarding difficulties faced by the businesses due to the import ban on luxury items recently implemented by the government of Pakistan to control its soaring current account deficit.
US Ambassador to Pakistan Donald Blome expressed the concerns in a meeting with Commerce Minister Syed Naveed Qamar at the Ministry of Commerce, Islamabad on Wednesday. To the concern expressed by Ambassador Blome regarding difficulties faced by businesses due to the import ban on luxury items recently implemented by the government of Pakistan, Minister for Commerce assured that the ban is temporary in nature and a certain relief has already been granted to some of the shipments. Earlier, in May this year, the federal government had imposed ban on import of “non-essential and luxury items” to control its soaring current account deficit. Now, the federal government is contemplating removing restrictions on the import. Finance Minister Miftah Ismail on Wednesday has also said that the government would remove ban on the import in next few days. However, ban on the import of mobile phones and automobiles would, however, remain in place for the time being because of their big foreign exchange impact.
Pakistan has assured the Ambassador Blome that the Ministry of Commerce is working diligently for the resolution of any issues being faced by businesses, including those of U.S. Minister for Commerce congratulated the ambassador on assuming his charge in Pakistan and underscored the importance of the decades-long relationship between Pakistan and the US. The role played by Pakistan in averting a humanitarian crisis in Afghanistan, and the efforts undertaken by it to ensure stability of the region were also highlighted. The ambassador appreciated the significant growth seen in exports from Pakistan to the US and expressed the hope for a deeper and wider bilateral relationship in the fields of trade and investment, digital services, science and technology, education, energy, and climate. The recently held Pakistan-U.S. Trade and Investment Framework Agreement (TIFA) Intersessional Meeting was hailed by both sides as an important development in paving the way for future engagements. Secretary Commerce informed that subsequent to the TIFA Intersessional, technical-level discussions have been held by the Ministry of Commerce on various market access issues between both countries. Minister for Commerce also requested for early revival of US GSP Scheme which will further provide market access to Pakistani exporters.
Regional connectivity also came under discussion as Secretary Commerce highlighted the steps taken by Pakistan to further connectivity within the region, especially with the Central Asian Republics (CARs), most recently with the signing of Transit Trade Agreement between Pakistan and Uzbekistan. Both sides pledged to further strengthen the mutual relationship and work together for the peace and stability of the region.
US Ambassador to Pakistan Donald Blome expressed the concerns in a meeting with Commerce Minister Syed Naveed Qamar at the Ministry of Commerce, Islamabad on Wednesday. To the concern expressed by Ambassador Blome regarding difficulties faced by businesses due to the import ban on luxury items recently implemented by the government of Pakistan, Minister for Commerce assured that the ban is temporary in nature and a certain relief has already been granted to some of the shipments. Earlier, in May this year, the federal government had imposed ban on import of “non-essential and luxury items” to control its soaring current account deficit. Now, the federal government is contemplating removing restrictions on the import. Finance Minister Miftah Ismail on Wednesday has also said that the government would remove ban on the import in next few days. However, ban on the import of mobile phones and automobiles would, however, remain in place for the time being because of their big foreign exchange impact.
Pakistan has assured the Ambassador Blome that the Ministry of Commerce is working diligently for the resolution of any issues being faced by businesses, including those of U.S. Minister for Commerce congratulated the ambassador on assuming his charge in Pakistan and underscored the importance of the decades-long relationship between Pakistan and the US. The role played by Pakistan in averting a humanitarian crisis in Afghanistan, and the efforts undertaken by it to ensure stability of the region were also highlighted. The ambassador appreciated the significant growth seen in exports from Pakistan to the US and expressed the hope for a deeper and wider bilateral relationship in the fields of trade and investment, digital services, science and technology, education, energy, and climate. The recently held Pakistan-U.S. Trade and Investment Framework Agreement (TIFA) Intersessional Meeting was hailed by both sides as an important development in paving the way for future engagements. Secretary Commerce informed that subsequent to the TIFA Intersessional, technical-level discussions have been held by the Ministry of Commerce on various market access issues between both countries. Minister for Commerce also requested for early revival of US GSP Scheme which will further provide market access to Pakistani exporters.
Regional connectivity also came under discussion as Secretary Commerce highlighted the steps taken by Pakistan to further connectivity within the region, especially with the Central Asian Republics (CARs), most recently with the signing of Transit Trade Agreement between Pakistan and Uzbekistan. Both sides pledged to further strengthen the mutual relationship and work together for the peace and stability of the region.
