Car import climbs up by 185 percent in July – October

Car import climbs up by 185 percent in July – October

ISLAMABAD: The import of motor cars has climbed up by 185 percent during first four months (July – October) of current fiscal year 2020/2021 after ease in coronavirus lockdown.

The import of Completely Built Units (CBU) motor cars increased to $58 million during July – October of the current fiscal year as compared with $20.24 million in the same period of the last fiscal year, Pakistan Bureau of Statistics (PBS) said on Wednesday.

Industry experts said that as coronavirus lockdown eased in Pakistan as well as in other countries, the overseas Pakistanis cleared the motor vehicles under various schemes granted by the government.

The commercial import of motor cars is not allowed in Pakistan. However, Pakistanis are allowed to bring motor vehicles under schemes including transfer of residence, gift scheme and personal baggage.

In the past these scheme were grossly misused and the government while taking strict action imposed restriction that clearance of motor vehicles would only be allowed on payment of duty and taxes out of those amount which was remitted into Pakistan with evidence of banking channels.

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