“In an attempt to address steep devaluation of the rupee against the dollar, Pakistan on Tuesday temporarily banned import of gold to save the precious foreign currency reserves. The Economic Coordination Committee of the Cabinet, headed by Finance Minister Ishaq Dar, took the decision to ban the import of the yellow metal for one month with immediate effect. After the Indian government’s decision to discourage gold import by imposing 8% duties, the buyers had shifted to Pakistan where the commodity was allowed to be imported duty free since 2001.”
http://tribune.com.pk/story/584352/countering-devaluation-govt-slaps-temporary-ban-on-gold-import/
Related posts:
Fishermen still fighting Fukushima’s aftermath
Trump Administration Suspends Expedited H-1B Visa Approvals
Senate committee chair: U.S. will likely have more active military role in Mali
Google challenges Apple with high-end laptop
Bitcoin could turn Canada’s cities into ‘hubs of digital currency startups’
Merkel calls Obama about 'US spying on her phone'
Senator on journalists who publish leaks: ‘Historically, spies have been shot’
Industry sues over NYC crackdown on sugary drinks
Bitcoin convention brings out hope for digital currency's future
North Korea Is Newest Frontier for a Daredevil Investor
NSA promises transparency by launching new Tumblr blog
Schoolboys told to imagine themselves as future prime minister justifying martial law
Famous 'Fantasy Island' plane used to smuggle drugs into Oklahoma
Regulators who targeted anti-vaccine physician now owe him millions
California, Tennessee: More Cities Terminate Traffic Cameras