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Ban on gold import to be lifted in two weeks

Ban on gold import to be lifted in two weeks

LAHORE: Federal Commerce Minister Khurram Dastgir has said that ban on import of gold would be lifted in two weeks with an ultimate goal to facilitate the value added exports of
the commodity.

“The government has devised a comprehensive plan to allow import of gold and the ban will be lifted in two weeks,” the minister said while addressing a gathering in Rawalpindi. He said that the decision to lift the ban is being taken in light of stability of Pakistani rupee against US dollar, adding that the formal announcement to this effect would be made in a couple of weeks.

In January this year, the federal government had imposed a ban on the import of gold in order to check smuggling and speculation in currency. The decision to impose ban was taken at the meeting of Economic Coordination Committee (ECC) of the cabinet chaired by Finance Minister Ishaq Dar.