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July 05
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Pakistan has banned the import of all non-essential luxury goods in an effort to stabilize the economy, Reuters reported.

"All those non-essential luxury items that are not used by the wider public, a complete ban has been imposed on their import," minister Marriyum Aurangzeb told reporters.

The move comes as Pakistan's current account deficit is out of control and its local currency, the Pakistani rupee, has reached a historic low against the U.S. dollar.

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