18 C
Lahore
Tuesday, January 31, 2023
Search
Generic filters
EditorialLuxury drive on rocky road

Luxury drive on rocky road

On the one hand, we see that the ultra-elite section is unwilling to give up their lifestyle, no matter how expensive it may be, whilst commoners struggle to put two meals on their tables each day. In the first half of the current fiscal year, the government permitted the import of 2,200 luxury vehicles despite the recession-like conditions. Luxury car imports would only use up the foreign currency. The action illustrates the government’s inconsistent policies: it seeks to regulate imports of necessary consumer goods and industrial goods, but turns a blind eye to the import of vehicles.

A visit to the port reveals that despite rigorous foreign exchange controls, there is a huge line of containers waiting to be cleared. According to customs data, there are 8,500 containers full of consumer and industrial goods in ports across the nation. According to data from customs, non-opening letters of credit account for more than 95% of the 8,500 containers that are being held up at ports. Industry closures and market inflation are the results of this. Consumer, industrial, pharmaceutical, and perishable goods are all contained in the blocked containers, whereas used luxury car imports are swiftly cleared at ports. The information that 1,990 vehicles were imported in the second half of 2022 indicates how much we love premium automobiles. Unless and until the privileged elite changes its manners and behaviour, the country will continue to suffer from these problems.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Subscribe Today

GET EXCLUSIVE FULL ACCESS TO PREMIUM CONTENT

SUPPORT NONPROFIT JOURNALISM

EXPERT ANALYSIS OF AND EMERGING TRENDS IN CHILD WELFARE AND JUVENILE JUSTICE

TOPICAL VIDEO WEBINARS

Get unlimited access to our EXCLUSIVE Content and our archive of subscriber stories.

Top News

More articles