ISLAMABAD: Mobile handsets worth $687.249 million have been imported during first 11 months of current financial year 2015-16, showing 5.11 per cent increase as compared to same period last year.
The country, having more than 133 million mobile phone subscribers base, imported US $ 653.813 million in same period last year.
According to the data of Pakistan Bureau of Statistics (PBS) released on Wednesday, overall telecom imports saw decline of 0.66 per cent during July-May 2015-16 as compared to same period last year. Total imports were recorded at $1.256 billion against $1.265 billion in the same period last year.
Other telecom apparatus import also witnessed significant decline of 6.84 per cent during this period as it stood at $569.459 million during July-May (2015-16) against $611.277 million during same period of last year. In order to stop mis-declaration and to bring tax structure in line with market prices, the government in the budget for next fiscal year has announced to rationalize the sales tax rates on mobile phones.
The existing sales tax rates of Rs 500 and Rs 1,000 are proposed to be increased to Rs 1,000 and Rs 1,500 for medium and high category mobile phones respectively. The rate of tax on low category mobiles will remain unchanged at Rs 300.
However, analysts said with the increase of tax rate, mobile import through proper channel would decrease, thus depriving the government of revenue as it would result in increase of smuggled mobiles.
According to official assessment, the country sustained $1.1 billion losses due to smuggling of mobile phones last year. Further, the increase in mobile prices is expected to hinder the growth of 3G/4G technology in the country.
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