“Rome is burning while kings and princes are busy buying EVs at under-declared value,” renowned economist Ali Khizar stated in his recent tweet, alleging foul play on the government’s part.
Khizar brought the public’s attention to two points in his recent tweets:
- Unmitigated imports of high-end vehicles despite FOREX depletion concerns.
- Under-declaration of the values of high-end cars and electric vehicle (EV) imports.
Khizar stated that the unabated import of premium cars and EVs is draining the FOREX reserves as well as tax money. He added that the importers are under-declaring the values of their vehicles.
The imported cars number to reach 54 in Nov 22 if we include 8 Lexus in it
The total assessed value (on which duty to be applied) is $1.2 mn for 54 cars i.e. $22k/car
These expensive cars prices are underdeclared and wrongly assessed
There is drain on both Forex and taxes https://t.co/9nltJS3oBF
— Ali khizar (@AliKhizar) December 15, 2022
Khizar called out the government for allowing the import of luxury vehicles worth $1.2 million in November 2022 alone.
He also alleged that the government has facilitated a massive influx of EVs immediately after the expiration of the 100% regulatory duty on EV imports.
100% regulatory duty on EVs expired on 21st Nov and 17 EVs imported (custom declaration) in the last 9 days of Nov
Most of these EVs are Merc EQE/EQS and BMW IX3 and Nissan Leaf
This cannot be a coincidence of importing the very next day of duty waiver- must be preplanned
1/— Ali khizar (@AliKhizar) December 15, 2022
He also stated that the importers have under-declared the values of premium EVs by up to $100,000. Khizar said that many more cars are expected to enter Pakistan this month as well.
Landed price (pre-tax) range of these EVs is $50k-125k
Some of these cars of over $100k value have assessed value (& declared value) of below $10K
Expect many more cars import in Dec22
Rome is burning while kings and princes are busy buying EVs at under-declared value
2/2
— Ali khizar (@AliKhizar) December 15, 2022
It bears mentioning that Khizar has not cited any source for this information. The government is also yet to comment on these claims so take it with a grain of salt.
No governments, no past not present are interested in solving the actual issues. Some were busy in witch hunting, others are busy in getting rid of accountability. Ultimately it is the country that suffers. Will Supreme Court not take suo moto notice on this injustice of imported luxury items?