Pakistan registered 15 percent increase in import of cars and other vehicles during first six months of the current fiscal year. Pakistan witnessed 45 percent increase in import of heavy vehicles and buses. During first six months of current fiscal year, Pakistan imported buses and heavy vehicles amounting to $156 million. 

In first half of current fiscal year Pakistan manufactured 22 percent complete vehicles. During first six months of current fiscal year import of motorcycles increased by 47 percent to reach $1 million, while $6,86,000 were spent on import of motorcycles during previous fiscal year. 

The report further revealed that due to expansion of auto sector reasonable increase being witnessed in import of vehicles due to improvement in economic indicators. A recent cut in interest rate also put a positive impact on import of vehicles and demands is increasing day by day. As the government announced to remove ban on import of vehicles demands of completely manufactured vehicles increased.

Credit: Independent News Pakistan (INP)