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Pakistan sees 669pc rise in import of vehicles in 1Q of 2021

Pakistan sees 669pc rise in import of vehicles in 1Q of 2021

ISLAMABAD: Pakistanis imported vehicles worth $266.2 million during the first three months of the current fiscal year, marking a 669 percent increase in the rate of vehicular imports as compared to that of the last fiscal year’s first trimester.

Statistics issued by the Ministry of Commerce show that in the first quarter of 2020 (July-September), people imported vehicles worth $34.6 million.

In July this year, imports worth $123.25m were recorded, whereas in July last year, the figure stood at $19.36m.

Similarly, vehicles worth $141.43m were imported in August 2021, whereas in August 2020, imports worth $15.7m were recorded.

Meanwhile, in September this year, car imports stood at $1.6m, as compared to September 2020 when they were a mere $0.2m.

Sources within the ministry said that the government is taking different measures to restrain imports of expensive and luxury cars.