When the country is staring into the abyss of economic woes, a disaster in the industrial sector has shattered the exports; foreign reserves are depleting, and local assemblers are shutting down their production; the incumbent government has different targets to accomplish – to spend a significant amount to import “luxury BMW cars.”
Economic analysts, journalists, and the value-added textile exporters lambasted the government’s move. Highlighting the whole episode, Ali Khizar revealed the details in his tweet. As per the tweet, 65 cars are confirmed for the first batch (on January production) for delivery in March. LCs for 45 cars are opened, and the remaining 20 are in process.
65 cars are confirmed for the first batch (on January production) for delivery in March. LCs for 45 cars are opened, and remaining 20 in process.
100 plus more cars are booked for second batch (for production in March). And they company is eagerly taking more bookings.
— Ali khizar (@AliKhizar) January 7, 2023
He further informed that 100 more cars are booked for the second batch (for production in March). And the company is eagerly taking more bookings. The Ministry of Industries and Production stated that the notification had been issued for the booking of luxury vehicles.
Not the New …
Surprisingly, the episode is not just confined to the luxury BMW cars; sources have disclosed that the import of 160 Mercedes-Benz luxury cars has also been allowed by the government. And when the local car assemblers and auto parts makers are facing difficulties in the face of close LCs for raw material, LCs opened for worth more than 9 million simply add more to their pain.
It is pertinent to mention that the incumbent government did the same last year – imported 60 luxury vehicles (Prado, Land Cruiser, Mercedes-Benz EQE/EQS, BMW iX3) for the elites. After this worst episode, the textile exporters stated that If there were any illusions that the govt carries a clear direction for the industrial sector, they should have been dispelled by now.
What do you think about the move? Share your thoughts in the comments section.
Only Germans cars, since Pakistan have a positive trade balance with germany it is understandable.
160 Mercedes for the begining of 2023, if they are GLB and GLS it will be nice choice, GLB cheaper than e-Tron and GLS cheaper than Toyota LC J300.