ISLAMABAD: The Ministry of Commerce (MoC) has formally banned export of onions and bananas till April 15, 2024 aimed at arresting skyrocketing prices of both items in the month of Ramazan.
On Tuesday, the Commerce Ministry issued Statutory Regulatory Order (SRO) 382(1)/ 2024 which states “in exercise of the powers conferred by sub-section (1) of section 3 of Imports and Exports (Control) Act, 1950 (XXXIX of 1950), the federal government has directed that the following further amendments shall be made in the Export Policy Order, 2022.
In the Order, in schedule-1, in column (1), after serial number 19 and entries related thereto in columns (2), (3) and (4), the following new serial numbers and the corresponding entries related thereto shall be added, namely; - banana and onions. The ban shall lapse on April 15, 2024.
Sources in the Commerce Ministry stated that SRO has been issued after formal approval of Federal Commerce as any amendment in Import and Export(Control) Act, requires approval of Cabinet.
Copyright Business Recorder, 2024
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