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Pakistan: Imports of automobiles, tea, and cell phones rise dramatically

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5 months ago

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In recent months, there has been a significant increase in the import of a variety of goods into Pakistan; among the commodities with large increases recorded are vehicles, tea, and mobile phones.

Recent data indicate that over the previous 11 months, the import of cellphones increased by an astounding 214%, amounting to approximately $1.062 billion. This import cost is a staggering Rs458 billion in Pakistani currency.

Similarly, there was a sharp increase in auto imports of 269%, amounting to about $235 million, or Rs66.47 billion in local currency.

Additionally, the amount spent on tea imports into Pakistan increased by 17% to $603.7 million. This demonstrates the steady demand for this commodity, since it is equivalent to more than Rs171 billion in Pakistani rupees.

A significant increase in machinery imports was also seen, rising by 40% to $7.6 billion, highlighting expenditures on infrastructure and industrial equipment. Imports of crude oil rose by 12% and surpassed $5 billion in the meantime, demonstrating continued demand in spite of volatility in the world market.

In the meantime, the government’s plan to levy an 18% sales tax on mobile phones costing up to $200 (approximately Rs56,000) was soundly rejected by the Senate Standing Committee on Finance and Revenue.

Senator Anusha Rehman expressed her vehement objection to the proposed tax, arguing that smartphones are necessities rather than extravagance. The speaker emphasised that a tax of this kind would disproportionately impact phones with lower prices, rendering them unaffordable for a large number of customers.

However, in the currency market, the US dollar has strengthened further versus the rupee, demonstrating continuous changes in the value of currencies.

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Iranian President Offers Condolences for Kurram Terrorist Attack

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8 hours ago

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Masoud Pezeshkian, the president of Iran, has expressed his sorrow for the recent terrorist assault in Pakistan that claimed dozens of lives and denounced the crime.

The Iranian president said that all types of terrorism must be denounced in a statement. In addition to the relatives of the attack victims, he sent his sympathies to the people and government of Pakistan.

“I will stand by its friendly and brotherly country, Pakistan, and will seriously pursue the fight against terrorism to enhance security and stability in the region,” he added.

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It’s unfortunate that political points were scored. Claims Against Saudi Arabia Show a Desperate Attitude: Dar

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8 hours ago

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According to Senator Mohammad Ishaq Dar, the deputy prime minister and foreign minister, accusing Saudi Arabia of gaining political points is a sign of a desperate attitude.

In response to the PTI founder’s spouse’s remarks on Saudi Arabia, the Deputy Prime Minister stated, “Pakistan and Saudi Arabia are close friends and brothers.”

According to Dar, Saudi Arabia’s path of growth and prosperity is something they greatly admire. The nation of Pakistan takes pride in its strong ties with Saudi Arabia, which has supported it no matter what.

He said it is unfortunate and shows a desperate attitude to “implice Saudi Arabia for petty political point scoring.”

In order to prevent any political forces from jeopardizing Pakistan’s foreign policy, the deputy prime minister of their political objectives.”

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Examining Drug Mafia: Balochistani Smuggling Operation Started

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9 hours ago

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Two drug dealers were detained and an international narcotics deal was thwarted in Balochistan by government institutions.

A significant amount of crystal ice was taken from the individuals who were arrested.

The 70 kg of illegal goods that were found are valued about $1 million on the global market.

The arrested person’s cell phone also yielded contact information for the international drug gangs from Afghanistan and Britain.

The Pakistan Security Forces are dedicated to making the nation drug-free.

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