A sharp growth has been witnessed in import of motor cars in the categories of completely built unit (CBU) and completely knocked down (CKD) during the first nine months (July–March) of 2020-21.
The import of motor cars in both the categories recorded over 100 percent growth.
According to data released by Pakistan Bureau of Statistics (PBS) the import of CBU motor cars increased by 149 percent to $161.21 million during first nine months of the current fiscal year as compared with $64.8 million in the corresponding period of the last fiscal year.
Similarly, the import of CKD cars increased by 113 percent to $733 million during July–March 2020-21 as compared with $343.4 million in the same period of the last fiscal year.
Analysts said that import of CBU cars increased due to ease in air travel restrictions after reduction in coronavirus cases globally.
Besides, the import of CKD cars can be attributed to acceleration in domestic industrial activities after lifting of lockdown that was imposed to prevent spread of coronavirus cases. —TLTP