Country spends Rs248bn on mobile phones import

Country spends Rs248bn on mobile phones import

ISLAMABAD: Pakistan has imported mobile phones worth Rs248 billion during first nine months (July – March) of 2020/2021 owing to rise in demand of devices for digital financial system.

According to data released by Pakistan Bureau of Statistics (PBS) on Saturday, the country imported mobile phones worth 248 billion during July – March 2020/2021 as compared with 153 billion in the corresponding period of the last fiscal year, showing an increase of 62 percent.

The strong value of the dollar during the period forced higher import payment in terms of the Pak Rupee. The import of mobile phones in terms of US dollar increased by 56.74 percent to $1.53 billion during July – March 2020/2021 as compared with $980 million in the corresponding period of the last fiscal year.

Market sources said that coronavirus pandemic had limited the physical movement, which had given rise to online transactions. Mobile phones have played a major role in promoting the digital economy.

Further, the implementation of laws making it mandatory that only verified mobiles through the Pakistan Telecommunication Authority (PTA) to be activated for local services has also discouraged informal channels for the import of mobile phones.

They said that the depreciation of the Pak Rupee had also an impact on the surge of mobile phone imports.

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