August 27, 2021 (MLN): With a contribution of 15.74% to the total import bill during the month of July’21, the import bill of the machinery group surged by 30% YoY to $881million.
However, according to the data issued by the Pakistan Bureau of Statistics (PBS), in terms of growth-wise, the said witnessed a decline of 31% MoM when compared to $1.28bn recorded in the month of June’21.
During the month, in terms of value, Electrical Machinery & Apparatus, under the head of the Machinery group, showed an increase of 59.6% YoY to $182mn whereas the same segment posted a decrease of 10.7% on a sequential basis.
Meanwhile, the imports of Power Generating Machines valued at $164mn, up by 8% YoY to fulfill the domestic requirements while the same segment saw a dip of 49% MoM.
Telecom, under the head of the Machinery group, showed a decrease of 10.4% YoY and 38.15%, MoM, to $158mn during July’21.
Within Telecom, the import bill of Mobile Phones dropped by 19.4% YoY and 42% MoM to stand at $119mn during the month under review.
It is prudent to mention that the production of mobile phones by local manufacturing plants has surpassed the number of mobile phones imports in the country.
During Jan-July 2021, the production of mobile phones by local manufacturing plants was 12.27 million and imported mobile phones were recorded at 8.29 million, said Pakistan Telecommunication Authority (PTA) in a press release.
Today, the Advisor to PM on Commerce and Investment, Abdul Razzak Dawood held a meeting with the members of the Pakistan Mobile Phone Manufacturers Association (PMPMA) and other leading manufacturers and assemblers of the mobile phones to discuss the exports opportunities available to the local manufacturers and assemblers of mobile phones.
The Advisor assured participants that current policies would continue and additional incentives would also be given if export targets are met by the mobile manufacturers and exporters.
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