Goods struck at the ports will be released with 100% penalty, says Miftah Ismail

ISLAMABAD (92 News) - Finance Minister Miftah Ismail has said that the goods struck at the ports will be released with penalty surcharge of up to one hundred percent of assessed value.

In his tweets on Saturday, he said that the government has issued an SRO to reverse the ban on imports of luxury items to meet international obligations.

2) Tariff Policy Board will soon come up with new Regulatory Duty rates that will ensure that 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.

— Miftah Ismail (@MiftahIsmail) August 20, 2022

The finance minister said that 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.”