Pak imported cars worth $1.2 bn in 6 months despite economic crisis: Report

Pakistan spent USD 1.2 billion (Rs 259 billion) on the import of transportation items, including luxury cars, high-end electric vehicles, and their parts, during the last six months amidst sinking reserves and fear of default, according to a media report. The country is in the middle of a financial crunch with the foreign exchange reserves depleting to as low as USD 4 billion, forcing the central bank to slow down the import of even essential items. The News reported that despite the overall reduction in imports of transportation vehicles and other items compared with last year, the economy was still burdened with heavy outflows for buying expensive luxury vehicles and useless items. During these six months, the country imported completely built units (CBU), completely knocked down/semi knocked down (CKD/SKD) of USD 530.5 million equivalent to Rs 118.2 billion. Since CKD kits are not allowed to be imported, yet millions of dollars of these kits are being imported, harming the local

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