In just two months of the ongoing fiscal year, vehicle imports have witnessed a drastic stump of 85%.
The reason behind this major drop is mainly due to the restrictions of payment imposed for customs clearance.
According to Pakistan Bureau of Statistics (PBS) the import of Completely Build Units (CBU) plunged to $9.46 million during the July-August 2019 period from $61.88 million from the same time last year.
Experts have shared that there are also other factors adding to the drop in imports including the fact that the customs clearance payment transaction has to be made through foreign exchange and a bank certificate showcasing that it was done as a foreign remittance.
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