The ongoing financial year has seen a significant dip in the import of mobile phones and cars. In the first nine months of the current financial year, the import of mobile phones fell by 71% and cars 80%, according to a report of the Pakistan Bureau of Statistics. From July 2022 to March 2023, the import bill of mobile phones was $462.7 million, while the same bill for the period in the preceding year was $1.6 billion. This year, in March, there was a 92% decline in the import of mobile phones, as per the official report. On the other hand, the import of cars saw a decline of 80% in the first nine months of the current fiscal year. Cars worth $708.2 million were imported from July 2022 to March 2023, according to the report. During the same period last year, cars worth $1.51 billion were imported.

Credit: Independent News Pakistan-INP