Pakistanis spend Rs298 billion on imported mobile phones in 11 months

Shahnawaz AkhterWeb Editor

19th Jun, 2021. 03:16 pm
Imported Mobile Phones

KARACHI: Pakistan has imported mobile phones worth around Rs298 billion during the first 11 months (July-May) of 2020/21, which is 67 per cent higher than the amount spent in the same period of the last fiscal year, the data released by the Pakistan Bureau of Statistics showed.

The country had spent Rs179 billion on the import of mobile phones during the same period of the last fiscal year. The sharp rise in the import of mobile phones may be attributed to a significant rise in the digital financial transactions and the use of communication during the coronavirus pandemic.

Besides, reduction in duty and taxes on the import of mobile phones and effective measures of making registration mandatory to discourage smuggling also helped in increasing the imports through formal channels.

In its quarterly report, the State Bank of Pakistan (SBP) said: “Though the reduction in taxes may have contributed to the increased demand, work from home arrangements and the adoption of distance learning methods by educational institutions have also likely played a major role in pushing up the demand for imports for cell phones.”

In dollar terms, the import of mobile phones recorded an increase of 63 per cent to $1.86 billion during the first 11 months of the current fiscal year, compared with $1.14 billion in the corresponding period of the last fiscal year.

The mobile phones import remained high, as the country spent Rs27 billion in May 2021, which is 51 per cent higher, compared with Rs17.77 billion in the same month of the last year.

Similarly, the imports of mobile phones was 18 per cent higher, compared with Rs22.8 billion in April 2021.

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