Automobiles: Import of used vehicle rises

ISLAMABA:

Imported passenger vehicles in Pakistan have witnessed a continuous increase, as around 32,000 used cars were imported last year.

The number of cars imported in 2014 was recorded at around 22,000 which grew in the subsequent year by 10,000 units.

According to the data provided by Customs Appraisement South, the import of motor vehicles in terms of value increased by 19.4% in 2014-15. Vehicles worth Rs53.93 billion were imported to the country in the first 10 months, bringing in custom duty of Rs21.126 billion. At present, imported vehicles make approximately 15% of total car sales in Pakistan.

The current fiscal year has witnessed a record high in the import of cars, with a surge of 35%, worth $218 million, compared to the same period in the previous year, stated the report.  

Published in The Express Tribune, March 5^th, 2016.

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