Clarification with regard to the SRO 598(1)/2022 dated 19th May, 2022
Islamabad, 21st May, 2022: In order to address the balance of payments (BOP) situation in the country resulting from the increase in current account deficit (CAD) during the first 10 month of the current FY-22, import of certain luxury and non-essential items has been prohibited, vide SRO 598(I)/2022 dated 19th May, 2022.
2. However, to address the concerns of certain business quarters with regard to the implementation of the said SRO, it is clarified that in terms of proviso to the paragraph-4 of the Import Policy Order, 2022, the imports where Bill of Lading (B/L) or irrevocable Letter of Credit (L/C) was issued or established prior to the notification of the SRO 598(I)/2022 dated 19.05.2022 shall be exempt from the operation of the SRO. Hence, imported goods for which B/L or irrevocable L/C was established prior to 19th May, 2022 shall not be subject to the prohibitions contained in the said SRO.
3. Moreover, the business community and the general public are invited to share their concerns, proposals or any anomalies w.r.t. the said SRO at firstname.lastname@example.org. Ministry of Commerce would respond to them at the earliest.