The mobile phone industry in Pakistan has reportedly suffered due to lockdown and declining purchasing power of the people during the Coronavirus pandemic.
According to the details, markets have been closed for 8 months, taxes have increased by 25% whereas imports have decreased by 50%.
Sources related to the mobile phone industry in Pakistan said the country imported 3.5 million mobile phones every month during the period of 2008 to 2012. Sources said that the import duty of Rs. 700 has been increased to Rs. 2900. In addition to the global epidemic in 2020, the increase in government tax burden is also the reason for the decline in its imports.
It is pertinent to mention here that, Pakistan Bureau of Statistics (PBS) released data last month, according to which; Pakistan imported mobile phones worth Rs 92.8 billion during the first four months of the current fiscal year.
The import of mobile phones in terms of Pak Rupee increased by 52.33 percent as compared with Rs 61 billion in the corresponding period of the last fiscal year.
The import of mobile phones in dollar terms increased by 43.6 percent to $557 million during the first four months of the current fiscal year as compared with $388 million in the corresponding period of the last fiscal year.
The import of mobile phones in terms of US dollar registered a decline of 46 percent to $ 63.89 million in October 2020 as compared with $118.65 million in the same month of the previous year.