Connect with us

Hi, what are you looking for?


Dollar-starved Pakistan allows 2200 luxury vehicles import

ISLAMABAD: The government allows the import of 2,200 luxury vehicles in the first six months of the current fiscal year. While its pertinent to indicate that the country has in place strict foreign exchange control even for imports of essential consumer items and industrial goods.

The Stranded containers

On the other hand almost 8,500 containers stood stranded due to forex control at the country’s seaports in the first half of current fiscal year. The customs data suggests over 95pc of 8,500 containers as held up due to the non-opening of LCs.

These containers carry consumer goods, industrial goods, pharmaceuticals and perishable products, while imports of used luxury cars are swiftly clearing at ports.

the Bulk of Luxury Cars

According to the data released, the import of new cars stood at 193 vehicles. While 164 luxury electric vehicles were imported between July and December 2022. The import figure surged from the import of 1900 three years old luxury vehicles between the same period.

Of these only 25 vehicles falls within the category of 1,000-1,800cc while four vehicles above 1,800cc during the period under review.

The Silver Lining

While the country spent hundreds of billions of rupees on the import of these vehicles. The only benefit government received from these imports is in the shape of duty and taxes amounting nearly Rs2 billion.

The import of these vehicles is allowed only for overseas Pakistanis, but this facility is being misused by importers who pay up to Rs10m in the case of SUVs to passport owners.

the period under Review

Although the bulk of 1,450 used vehicles was imported in the category up to 1,000cc. While 370 vehicles between 1000-1800cc were imported. Only 20 luxury electrical vehicles were imported during the period under review.

The revenue collection on import of used vehicles stood at Rs7bn during the first half of the current fiscal year.

Zahra Sikandar
Written By

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


ISLAMABAD: Mufti Saeed said that he solemnised twice Nikkah of Imran Khan with Bushra Bibi. Mufti Saeed, who is a member of PTI’s core committee,...


Dollar reaches all-time high in the interbank where it is being traded at Rs255. The rupee plummet a further and lowest so far in...


Honda jacks up prices citing uncertain economic conditions: Honda Atlas Cars Ltd. (HACL) raised the prices of several models by Rs300,000 to Rs550,000 effective...


The mother of well-known Bollywood actor Nawazuddin Siddiqui filed an FIR against her Daughter-in-law over a property dispute. According to ANI, an Indian news...