Import of cell phones reaches Rs48 bn causing immense pressure on reserves

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KARACHI (City News) – Selfie fever increased the demand of the cell phone which inflated the import bill, resulting in huge pressure on the national exchequer

According to the latest numbers released by the Pakistan Bureau of Statistics, the cell phone import showed a drastic increase of 16 percent to Rs 48.71 billion in first seven months of the fiscal year compared with same period last year when arrivals of cell phones reached nearly Rs 41.80 billion.

Beside selfie fever, consumers are inclined to buy more and more cell phones due to introduction of latest technology which caused huge pressure on the foreign exchange reserves.

A dealer said if a tax holiday and some incentives have been promulgated, the local business with joining hands with overseas partners could install a assembling unit helping the consumers to get home made cell phone which would be cheaper compared to existing with advanced technology.

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