September 25, 2007	Tuesday	Ramazan 12, 1428

ISLAMABAD, Sept 24: The import of complete built-unit (CBU) cars recorded a negative growth of 30.62 per cent during the first two months (July-August) of the fiscal year 2007-08 over last year.

Official figures compiled by Federal Board of Revenue (FBR) showed that the decline in import of CBU cars was recorded following further restriction on trade of old cars by overseas Pakistanis.

The import bill of CBU units declined to $82,882 million during the July-August period of the current fiscal year as against $57.501 million during the same months of last year.

Of these import of buses, trucks and other heavy vehicles declined by 26 per cent, motor cars 35.42 per cent during the period under review over last year.

However, import of motorcycles witnessed a robust growth of 157.59 per cent.

A revised policy regime restricting import of motorcars older than three years was introduced in the Budget 2007-08. As a consequence, not only the number of imported cars declined, it also affected import value and customs duty as well.

On the other hand, the import of completely knocked-down (CKD) and semi-knocked-down (SKD) cars recorded a growth of 17.91 per cent during the months under review over the last year.

Of these imports of buses, trucks was up by 38.87 per cent, motor cars 5.10 per cent and motorcycles 84.23 per cent during the July-Aug period of the current fiscal year over last year.