Import bill of luxury cell phones jumps 144% in December

F.P. Report

ISLAMABAD: The people of poverty-stricken Pakistan spent 176 million dollars on the import of luxury mobile phones during the month of December 2023 while during the first 6 months of the current fiscal year $790 million were consumed on imported mobile phones.

According to report, Pakistan registered 144 percent hike in the import bills of luxury cell phones in the month of December 2023.

During December 2022, Pakistanis purchased $73 million cells phone which reached $176 million during December 2023.

Likewise during first half of fiscal year 2022 (July to December), Pakistan imported more than $360 million phones which touched 790 million during six months of 2023.

The report highlighted that during the first 6 months of the current fiscal year, a whopping amount of $790 million was consumed on imported mobile phones which shows an increase of 118 percent compared the past 6 months.

 According to economic experts, as Pakistan is facing a huge current account deficit, an import of luxury cell phones must be discouraged and government should focus on the local production of cell phones.