The soaring import bill, coupled with concerns about the resurgence of COVID-19, will continue to hinder car importers in Pakistan as the federal cabinet is likely to ignore delays in imports by overseas Pakistanis.
According to our source, the members of the cabinet will discuss the matter tomorrow under the supervision of Prime Minister Imran Khan.
The meeting will have a fourteen-point agenda including amendments to the federal government’s Rules of Business 1973, the formulation of a ‘Regulatory Audit Oversight Board’, and ensuring the proper use of authority by the Auditor General Pakistan (AGP).
A source privy to the matter stated that the Economic Coordination Committee (ECC) endorsed the commerce ministry’s summary presented in May 2021.
The summary recommended delaying shipments of vehicles imported from overseas Pakistanis in accordance with the current policy. However, these recommendations aren’t finalized as some members of the Cabinet opposed them.
As per the current import policy, overseas Pakistanis are allowed to bring three-to-five-year-old vehicles in Pakistan under personal baggage, transfer of residence, or gift schemes.
Reports suggest that the imported cars exceeded the three-to-five-year age limit by a few days due to arriving late in Pakistan because of shipping constraints caused by the pandemic. These vehicles are now gathering dust and wasting away at the ports.
The government is yet to issue a clear stance on vehicle imports by overseas Pakistanis. However, given the reported delivery delays and the subsequent wear and tear of the vehicles, it is clearly not the right time for overseas Pakistanis to be importing cars.
