Mobile phones worth $1.148 billion imported in cash-strapped Pakistan

The mobile phone imports into the country increased by 156.43 percent during the first eight months of the current fiscal year as against the imports of the corresponding period of last year.

The telecom imports during July to February (2023-24) were recorded at $1.148 billion compared to the imports of $447.854 million during July to February (2022-23), according to the latest data of the Pakistan Bureau of Statistics (PBS).

On a month-on-month basis, the mobile phone imports decreased by 17.46 percent to $160.899 million in February 2024 when compared to the imports of $194.928 million during January 2024.

Meanwhile, on a year-on-year basis, the telecom imports into the country witnessed increase of 386.78 percent during the month of February 2024 compared to February 2023. 

The telecom imports during February 2024 were recorded at $160.899 million against the imports of $33.054 million during February 2023. 

On the other hand, Pakis­tan plans to seek a new loan of at least $6 billion from the International Monetary Fund (IMF) to help the government repay billions in debt due this year.