THIS refers to news report ‘New taxes to limit use of luxury items: Dar’ (Nov 27). After having caused immense damage, realisation has dawned upon Ishaq Dar that unabated imports are destroying the national economy. Pakistan’s exports cover just 55pc of total imports, resulting in a huge trade deficit. The trade deficit is being managed through indiscriminate borrowings from donor agencies.

Imposition of duty on the import of luxury items is not the solution as it would not reduce the import bill. Consumers of luxury goods are mostly rich people. So a ban should be placed on the import of luxury and non-essential goods.

Independent economists have been reminding the government about reshaping its economic policies to avoid a debt trap which is becoming a national security risk.

Arif Majeed
Karachi

Published in Dawn, November 29th, 2015