Luxury Car Imports Rise Amid Low Dollar Reserves in Pakistan

In a recent update shared by popular business analyst Ali Khizar, it has been revealed that car imports in Completely Built-Up (CBU) form have witnessed a significant rise in Pakistan.

During the month of June 2023 alone, a total of 1,159 cars in CBU form were imported, with a combined value of $20 million. Among these imports, 1,033 cars were used, while 126 were brand new, including luxury brands like Lamborghini, BMW, Mercedes-Benz, Toyota, Lexus, and Range Rover.

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Khizar also mentioned that the current government has made revisions to the rules governing imports under the baggage scheme, leading to expectations of further increases in car imports in the coming months.

However, these developments have sparked concerns among netizens, who argue that such policies strain foreign exchange reserves and may weaken the economy further.