The ECC has agreed to lift the import ban.

After “concerns” from Pakistan’s trading partners, the Economic Coordination Committee (ECC) approved lifting the ban on hundreds of items on Friday.

The Finance Division said in a statement that the ECC approved lifting the import ban on 33 classes or categories of goods, totaling more than 860 products or tariff lines.

Finance Minister Miftah Ismail presided over the ECC meeting, which was attended by federal ministers, state ministers, and officials from the government’s economic team.

The ban was imposed on May 19 as Pakistan’s current account deficit (CAD) continued to rise and the rupee was under pressure due to a lack of dollars.

The ECC decided to lift the ban “in light of serious concerns expressed by trading partners about the imposition of the ban, as well as the fact that the ban has impacted supply chains and the domestic retail industry.”

Furthermore, the ECC recommended that held-up consignments that arrived after June 30 be released with a surcharge up to July 31.The ECC’s approval comes three months after Finance Minister Miftah announced the lifting of the import ban, as the country’s economy takes a breather following positive cues.

In a press conference with members of the economic team, the finance minister stated that the import ban on non-luxury items was being lifted in accordance with International Monetary Fund (IMF) demands.