KARACHI: The import of cars has registered 23.5 percent growth in first nine months of current fiscal year owing to rising local demand for domestic and commercial services, analysts said.
According to data released by Pakistan Bureau of Statistics (PBS) the total import of motor cars including CBU (Complete Built-Up) and CKD (Complete Knocked-Down) were at $763.74 million during July – March 2016/2017 as compared with $618.12 million in the corresponding period of the last fiscal year.
The analysts attributed the rise in imports of motor cars to demand for online cab services. Further, they said that the delayed period of delivery by local manufactures and own money also encouraged people to purchase foreign second-hand cars.
The import of motor cars in the form of CKD/SKD was at $485.125 million during the first nine months of current fiscal year as compared with $383 million in the corresponding months of the last fiscal year.
Similarly, the import of motor cars in CBU mode was at $278 million when compared with $235.04 million.
The overall imports in transport sector posted growth of 19.41 million to $2.29 billion as against last year’s import in the period under review of $1.91 billion.
The total import in CBU mode was at $503.46 million against $391 million, showing growth of 28.74 percent. Similarly, the total import in CKD/SKD form was at $749.16 million when compared with $619.38 million, depicting 21 percent growth.
