The State Bank of Pakistan (SBP) decided last month to relax import restrictions on Completely Knocked Down (CKD) kits for local automakers.
However, the restriction on imported vehicles remains in place in order to protect the country’s foreign exchange reserves.
Regardless, popular economic analyst Ali Khizar recently tweeted that Pakistan imported more than 300 vehicles, including luxury vehicles, in December 2022 alone.
CBUs (including luxury cars & bikes) imports in Dec -22
23 Land cruisers and Lexus
20 EVs – mostly E-trons by Premier Motor
18 heavy bikes including BMW Motorrad and Harley-Davidson
Over 300 used cars – including VItz and Vessel
— Ali khizar (@AliKhizar) January 19, 2023
Among the imports are 18 sportbikes and cruisers, 20 premium electric vehicles (EVs), and 23 premium off-road SUVs, in addition to over 300 regular commuter cars.
People criticised the government for allowing imports despite the ongoing economic crisis, as is typical of these tweets.
Abdullah Saad, the owner and CEO of WCCFTech, revealed the official list of high-end cars, including uber-expensive Ferraris, imported from May (when the restrictions went into effect) until December 2022 in a similar tweet.
Saad’s tweets show that these vehicles have already arrived in Pakistan. Some are still waiting to be cleared, while others have already been cleared.
Saad, like several other analysts, expressed his dismay at the situation, pointing out that the restriction clearly does not apply to the wealthy.
Car sales in Pakistan fell 44% in December 2022 when compared to the same month in 2021, according to industry data.
According to data released by the Pakistan Automotive Manufacturers Association (PAMA), car sales fell to 13,768 units in December 2022, down from 24,471 units in December 2021.
PAMA members’ car sales fell by 11% in December 2022, compared to 15,432 units sold in November 2022, while six-month car sales fell by 40%.
To read our blog on “Kia and Changan remain among the top 5 automakers nationwide,” click here
