ISLAMABAD: Federal Minister for Finance and Revenue Dr. Miftah Ismail Ahmed has said that to meet with our international obligations, the government has issued an SRO to reverse the ban on imports of luxury items.

In a statement issued on twitter on Saturday, Miftah Ismail said that the goods stuck at the ports will gradually be released with penalty surcharge of up to 100% of assessed value.

Miftah Ismail said that the Tariff Policy Board will soon come up with new Regulatory Duty rates that will ensure that our limited foreign exchange is spent on essential items and not on these items that we have unbanned. We must live within our means, he said.