Mobile phones import witnessed an outstanding development of 19.28 p.c within the first eleven months (July-Might) of 2017-18 because it remained $759.969 million compared to $637.140 million throughout the identical interval in 2016-17 (July-Might).
Mobile phone imports in Might 2018, valued at $81.362 million, elevated by 25.64 p.c when compared to the $64.76 million imports in Might 2017. Month on month, the imports have elevated by 7.72 p.c when compared to $75.53 million in April 2018. These figures had been revealed by the Pakistan Bureau of Statistics (PBS) lately.
General telecom imports noticed a rise of over 11.77 p.c throughout July-Might 2017-18 compared to the identical interval of final 12 months. Complete imports had been recorded at $1.396 billion throughout this era in comparison with $1.249 billion in July-Might 2016-17. Telecom imports remained $129.835 million in Might 2018 and registered 10.39 p.c development, as in comparison with $ 117.613 million throughout Might 2017.
Different telecom equipment imports also witnessed development of over 3.95 p.c in July-Might 2017-18 because it stood at $636.057 million towards $611.872 million throughout the identical interval of final 12 months.
The care-taker authorities is mulling new coverage tips to reduce the import invoice by rationalizing the import of cell phone handsets and different telecom equipment.
Pakistan’s commerce deficit reached an all time excessive of $33.88 billion during the first eleven months of the present fiscal 12 months with $55.23 billion imports and $21.34 billion exports.
Commerce Division has reportedly began preparing a listing of non-essential gadgets and the federal government is contemplating measures to rationalize non-essential imports to cut back the quantum of commerce deficit.
To curtail rising imports and generate further income, the federal authorities has introduced a brand new sort of levy of up to Rs 5000 on importing mobile phone handsets within the price range for 2018-19.
In response to the Finance Act 2018, there are plans to impose a cell handset levy on the charges specified on sensible phones of different categories.
- The levy will probably be zero the place import worth of handset (together with duties and taxes) doesn’t exceed Rs 10, 000.
- There will probably be a levy of Rs 1000 per set the place import value of handset (together with duties and taxes) exceeds Rs 10,000 however doesn’t exceed Rs 40,000.
- There will probably be a levy of Rs 3000 the place import worth of handset (together with duties and taxes) exceeds Rs 40,000 however doesn’t exceed Rs 80,000.
- There will be a levy of Rs 5000 the place import worth of handset (including duties and taxes) exceeds Rs 80,000 per set.
In response to the Finance Act, a levy of Regulatory Obligation (RD) @ R s175/set on utterly knocked down (CKD)/ semi-knocked-down (SKD) kits of cell phone have been imposed.
However, according to experts, this will lead to enhance in mobile phone handsets prices in addition to encourage the smuggling of mobile phones.