In the midst of a severe economic crisis and rapidly depleting foreign reserves, Pakistan’s government continues to spend large sums on luxury vehicle imports.
The move has received harsh criticism from both journalists and economic analysts.
According to Ali Khizar, 65 luxury vehicles have been confirmed for the first batch (on January production), with delivery scheduled for March 2023. 45 LCs have been opened, with the remaining 20 in the process.
In addition, 100 more vehicles have been reserved for the second batch (for production in March).
And the company is eager to take more reservations. According to the information, the cost of these shopping mode BMW i7 luxury vehicles is 226,000 Euros per unit, which roughly translates to Rs 5 crore.
65 cars are confirmed for the first batch (on January production) for delivery in March. LCs for 45 cars are opened, and remaining 20 in process.
100 plus more cars are booked for second batch (for production in March). And they company is eagerly taking more bookings.
— Ali khizar (@AliKhizar) January 7, 2023
According to officials from the Ministry of Industries and Production, the SBP (State Bank of Pakistan) has taken a more lenient approach in opening LCs beginning January 1, 2023, and a notification has also been issued in this regard for the booking of luxury shopping mode BMW vehicles.
Furthermore, sources claim that the government has approved the importation of over 160 Mercedes-Benz luxury vehicles.
While local assemblers and auto parts manufacturers are concerned about difficulties in opening LCs for raw materials, LCs for luxury vehicles worth more than $9 billion are being opened.
In late 2022, nearly 60 expensive luxury vehicles worth billions were already imported, including Toyota Land Cruiser and Prado, some Lexus models, and electric vehicles for the elites such as Mercedes Benz EQE/EQS, shopping mode BMW iX3, and Nissan Leaf.
To read our blog on “Pak Suzuki halted its production again till January 13th,” click here
