Automaker vehicle imports Increase by 83 percent.
According to the Pakistan Bureau of Statistics (PBS) data, car imports grew by 83 percent in the first 11 months of the fiscal year 2020-21.
In the first 11 months of F.Y. 2020-21, auto-industry imports were registered at $2,624 billion compared to imports worth $1,431 billion.
The value of CKD/SKD car imports was $2.180 billion, up 86.72 percent from the previous year. Imports from CBU's surged by 81.29 percent, with imports rising to $336,941 million compared to $185,861 million last year.
Industry analysts believe that the current influx of new automobiles may have resulted in such a vast increment and number of automobile imports. Almost two dozen new vehicles, most of them SUVs, but nearly all of them are price tags above 4 million Rs, were introduced into the Pakistani market the year before.
The government is changing its focus to encouraging the sale and purchase of smaller, more environmentally friendly vehicles to lower the high import bill.
The All Pakistan Automobile Dealers Association (APMDA), on the other hand, is advocating for a reform of the import rules to encourage car imports. H.M. Shehzad, the Chairman of the APMDA, wrote to the Finance Ministry (MoF) around two weeks ago to recommend revisions to the new vehicle policy that will take effect after the presentation of the 2021-22 budget.