Last month, the State Bank of Pakistan (SBP) decided to ease import sanctions on Completely Knocked Down (CKD) kits for local car companies. However, the restriction on imported vehicles is still in effect to protect the foreign exchange reserves.
Regardless, according to a recent tweet from popular economic analyst Ali Khizar, Pakistan imported more than 300 vehicles including luxury vehicles in December 2022 alone.
CBUs (including luxury cars & bikes) imports in Dec -22
23 Land cruisers and Lexus
20 EVs – mostly E-trons by Premier Motor
18 heavy bikes including BMW Motorrad and Harley-Davidson
Over 300 used cars – including VItz and Vessel
— Ali khizar (@AliKhizar) January 19, 2023
Apart from over 300 normal commuter cars, the imports include 18 sportbikes and cruisers, 20 premium electric vehicles (EVs), and 23 premium off-road SUVs. As is the norm with these tweets, people criticized the government for allowing imports amid the ongoing economic crisis.
In a similar tweet, the owner and CEO of WCCFTech, Abdullah Saad, revealed the official list of high-end cars including uber-expensive Ferraris, imported from May (when the restrictions took effect) till December 2022.
Saad’s tweets highlight that these cars have already reached Pakistani shores. Some are awaiting clearance while others have already been cleared. Like several analysts, Saad expressed his dismay over the situation, as the restriction evidently doesn’t apply to the rich.
IMF loan well spent!