Pakistan Imported 1.2 Billion US Dollars Worth of Electric Luxury Cars in Six Months Despite Economic Crisis Debt Details

For the past few years, Pakistan is facing difficulties due to economic crisis and hugely increasing debt burden. In December, Pak Sukuzi Motor Company (PSMC), the joint venture partner of Japanese automobile company Suzuki in Pakistan, had announced the closure of production. At the same time, Indus Motor Company (IMC), which assembles Toyota’s vehicles in Pakistan, stopped production in December. However, despite this, the demand for luxury cars in Pakistan has increased rapidly. Pakistan has reportedly spent US$1.2 billion (about 27,582 crore Pakistani rupees) on the import of transport goods including luxury cars, high-end electric vehicles and their parts within the last 6 months.

Geo News of Pakistan AccordingWhile on one hand Pakistan is trying to cut down on the import of essential items, on the other hand the import of expensive and luxury cars is increasing in the country. The report states that during the last 6 months, Pakistan has imported completely built units (CBUs) and some critical parts worth US$ 530.5 million (about 118.2 billion Pakistani rupees).

Certainly, on the one hand, there should be a reduction and prevention on the import of even essential’s policy On the one hand, the issue of the ban and the large-scale import of luxury vehicles and parts on the other, raises questions on Pakistan’s policies. The report further states that Pakistan has planned to import buses, trucks and other heavy vehicles worth USD 75 million (approx. 17 billion Pakistani rupees), motor cars USD 32.6 million (approx. 7 billion Pakistani rupees).

Pakistan Imported heavy vehicles worth US $ 722.5 million (about 161 billion Pakistani rupees) and cars worth US $ 498 million (about 111 billion Pakistani rupees) in the last 6 months. According to the report, motorcycles worth US$ 27.6 million have also been imported.

The extravagant imports do not stop here, the country has spent US$188.6 million (about 42 billion Pakistani rupees) on the import of vehicle parts and accessories, as well as US$47.7 million on aircraft, ships and boats. .

Speaking of December alone, then Pakistan has Imported US$ 140.7 million in transport, of which US$ 47.5 million on import of cars, US$ 27 million on parts, US$ 3.6 million on import of motorcycles, US$ 25 million on buses, trucks and heavy vehicles have been done. In addition, US$22.4 million has been spent on aircraft, ships and boats.

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