“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:
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.
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.
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.
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.