KARACHI: Smartphones valuing $ 7.19 million have been imported illegally without opening letters of credit (LCs) or utilising banking channel, an official report discloses. Report of Federal Board of Revenue reveals that despite an unannounced ban on import of mobile phones and their accessories by State Bank of Pakistan 52 Goods Declarations (GDs) worth $ 8.65 million related to import of mobile phones had been cleared between December 2022 and February 2023.

These mobile phones have been imported in Completely Build Up (CBU) condition. Only $ 1.46 million was paid legally out of Pakistan through banking channel, whereas $ 7.19 million flowed out of Pakistan illegally.

However, FBR hasn’t mentioned mode of payments made to suppliers in Dubai for import of mobile phones. According to Pakistan Telecommunication Authority manufacturers imported more than 190,000 mobile phones in CBU condition under facility allowed to them.

Despite restrictions set by banking sector on imports, mobile phones are still reportedly being imported by some companies under their manufacturing licence.

Import of smartphones soared especially after at least 30 manufacturing units in Pakistan halted manufacturing, citing import restrictions.

Published in The Daily National Courier, April, 10 2023

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