By Arsalan Ali ISLAMABAD, June 06 (INP WealthPK): Machinery group imports is a vital engine of growth for the successful development of the industrial and manufacturing sector.  Over the Q3 (Jan-March) of Fiscal Year 2022, the import performance of the machinery group registered a decrease of 4% compared to the same period of FY2021, reports WealthPK. According to the latest report by the Trade Development Authority of Pakistan, machinery group imports – including power generating machinery, construction and mining machinery, telecom and mobile phones – showed a decline of 54%, 15%, 7%, and 15% respectively during Q3 of FY2021-22. Office machinery imports showed a significant increase of 34%, textile machinery 32%, agricultural machinery & implements 31% and other machinery 16% in the Q3 of FY 2022 compared to the same period of FY2021. According to the report, nine-month comparison shows that Pakistan imported machinery worth USD8,685 million during July–March of FY2022 as against USD7,133 million during the corresponding period of FY2021, showing an increase of 22%. A quarterly comparison showed that the import payments of the machinery group in Q3 of FY2022 decreased 10% compared to Q2 (October-December) of FY2022. The report said machinery imports were capital goods used for industrial production. Moreover, an increase in imports may facilitate the production of other goods. The report noted that the main import of the telecom sector is mobile phones which recorded an inconsistent growth during the nine months of FY2022. However, a consistent decrease has been noticed in the import of mobile phones during the nine months of FY2021 after the government withdrew the facility of duty-free import of mobile phones under the baggage rules. The total import of mobiles decreased during Q3 of FY2021-22. Despite a rise in domestic assembling, Pakistan imported USD1.59 billion worth of cell phones in the first nine months (July to March) of 2021-22. The report said domestic manufacturing plants produced or assembled 1.53 million smartphone devices in January 2022 compared to 0.14 million phones legally imported in January 2022. The power generating machinery sector showed a significant decline of 54%, while office equipment machinery and textile machinery imports surged by 32% and 28% respectively. The telecom sector imports declined by 7% in the Q3 of FY2022 compared to Q3 of FY2021.