ISLAMABAD, May 19, (ABC): Government plans on taking tough decisions and is likely to hike regulatory on duty several items.
According to details, regulatory duty on imported tires is likely to be hiked by 50 percent while a 40 percent increase is expected in duty on imported tiles. Regulatory duty on machinery will be up by 10% and home appliances by 50%.
Government also plans on doubling duty on mobile phones and cars above 1800cc engines.
Meanwhile, Prime Minister Shehbaz Sharif chaired an important meeting which decided to completely ban import of unnecessary and luxury items.
PM Shehbaz Sharif said that government will not allow to spend precious foreign exchange reserves on such items.