The Mobile Phones Import Shows 81% Growth During FY2019-20

Pakistan has spent Rs217 billion on import of mobile phones during fiscal year 2019/2020 amid slow economy and outbreak of coronavirus pandemic. The import of mobile phones was Rs217 billion during fiscal year 2019/2020 as compared with Rs102.75 billion in the preceding fiscal year, showing 81 percent growth, according to data released by Pakistan Bureau of Statistics (PBS). Moreover, Mobile Phones Import Witnessed an Increase of 89.03% in the First Month of FY 2020-21. 

The Mobile Phones Import Shows 81% Growth During FY2019-20

Market sources said that reduction in duty and taxes and restriction of registration with the Pakistan Telecommunication Authority (PTA) has increased the import of mobile phone through legal channels. Telecom experts are linking the phenomenal growth in mobile imports to the implementation of Device Identification Registration and Blocking System (DIRBS).

According to FBR, during the FY20, around 1.38 million mobile devices were registered via DIRBS by individuals. FBR has collected a total of Rs7.04bn in revenues between Jan 2019 and Aug 2020.

Check Also: DIRBS Fetches Whopping Rs 45.4bn Tax from Mobile Phones – FBR

The import of mobile devices in terms of US Dollars also increased to $1.4 billion during the fiscal year under review as compared with $755.55 million in the preceding fiscal year.

Mobile phone imports in June 2020, which stood at $231.303 million, registered 300.62 percent growth as compared to $57.736 million imports in June 2019.

Despite the imposition of lockdown in the country to prevent coronavirus, the country imported mobile phones worth Rs38.2 billion in June 2020, which is 115 percent higher when compared with Rs17.78 billion in May 2020.

The market sources said that due to lockdown the importance of digital economy had increased. They said that financial transactions were being done through mobile phones, which were the easiest way.