ISLAMABAD: The Government tonight [May 14] announced the new import policy, framed so as to lay the foundation “of a durable policy which is not altered every six months or 12 months”. A Press note issued by the Ministry of Commerce containing the new policy announced that the system of categories and entitlements has been abolished and any person may import any item after getting registered with the CCI & E, and such registration will be allowed freely. Even this registration will not be necessary for licences of C and F value not exceeding Rs. 2,000 and for actual users importing goods for their own use.

Under the new policy, the former categories of importable items into many lists has been discontinued and now imports would be made under two lists: (a) free list, and (b) tied list. The free list contained 330 items while the tied list comprised about 25 items. The free list comprised all items on the former lists, the licensable list, the cash-cum-bonus and bonus lists, except a few now placed on the tied list. It also covered all items of essential nature, such as industrial raw material, machinery and spares, and essential consumer items… .

Published in Dawn, May 15th, 2022