Imports of used vehicles into Pakistan have risen sharply following changes to import rules, with 2,276 vehicles entering the country in September compared with 48 in May, government sources say.
The figures represent an increase of about 4,642% over the four-month period.
Prime Minister Shehbaz Sharif chaired a meeting on Wednesday to review the rise in used vehicle imports through commercial and gift schemes.
Officials briefed the meeting on the latest import figures and the potential impact of the increase on Pakistan’s local automobile industry.
Local car manufacturers have expressed concerns that a continued increase in used vehicle imports could reduce the market share of vehicles assembled domestically.
The industry is expected to face greater competition if imports continue to rise under the existing schemes.
The government is expected to take these concerns into account while reviewing the rules governing used vehicle imports.
Vehicle importers, however, say increased availability of used cars would give consumers more choice and encourage greater competition in the market.
The government is expected to consider the positions of both local manufacturers and importers as it finalises provisions for used vehicle imports under the country’s new Auto Policy.
Sources said rules relating to used vehicle imports are expected to be incorporated into the new policy.
