Report issued on Saturday by the Federal Board of Revenue (FBR), mobile phones worth $7.19 million have been brought into Pakistan illegally without the use of Letters of Credit (LCs) or banking channels.
The State Bank of Pakistan (SBP) had unexpectedly banned the import of mobile phones and their accessories between December 2022 and February, according to information provided by the FBR. However, these phones were imported in Completely Built Up (CBU) condition during that time.
The report states that during this time, 52 Goods Declarations (GDs) totaling $8.65 million were cleared for the import of mobile phones, but only $1.46 million was legitimately paid through the banking channel. The method of payment for the remaining sum has not been disclosed by the FBR.
The amount of $7.19 million, according to an FBR representative, was calculated by comparing information from the GDs with the quantity of IMEI number registration applications that were also granted by the FBR.
The Goods Declaration (GD) is an electronic customs declaration form that includes complete information about the quantity, unit price, and terms of payment of goods imported or exported from Pakistan.
The official continued by stating that the data matching revealed that payment for mobile sets worth $7.19 million had not been made, indicating that payment was made using illegal means.
Despite import restrictions imposed by the banking sector, sources within the Pakistan Telecom Authority (PTA) confirmed that manufacturers have imported more than 190,000 mobile phones in CBU condition using a facility made available to them.
The PTA, which has been given the Certification of Compliance (COC) by commercial mobile phone dealers for the registration of IMEI numbers in bulk quantity, is responsible for registering the IMEI numbers of all imported phones in Pakistan.
With all 30 of the nation’s manufacturing facilities shut down due to a government ban on the import of luxury goods, the import of mobile phones has increased in an unusual way over the past few weeks.
A senior official from the IT ministry responded to the predicament by stating that although businesses are permitted to import a certain number of mobile phones, abusing this privilege could harm the nation’s investment climate.
In order to stop future instances of illegal imports of mobile phones and their accessories, the FBR report highlights the need for increased regulation and oversight of the importation process.
