Germany threatens Pakistan of economic consequences over restrictions on imports of Audi, BMW and Mercedes
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ISLAMABAD – Germany has expressed reservations on difficulties being faced official importers of Mercedes-Benz, BMW and Audi in Pakistan due to restrictions imposed by the cash-strapped country on imports to tackle depleting foreign exchange reserves.
The German Ambassador to Pakistan Alfred Grannas sent a letter to Federal Minister of Economic Affairs Sardar Ayaz Sadiq, stating Pakistan may lose its Generalised Scheme of Preferences (GSP-Plus) status due to such restrictions.
The ambassador wrote that the Germany always appreciated “Government of Pakistan's outlook towards environment protection and efficient utilization of natural resources, clean and green energy. A positive regulatory framework for Electric vehicles' imports has been a major step in that direction”.
“I would like to draw your attention to the difficult situation of official importers for Mercedes-Benz. BMW and Audi in Pakistan who identified electric vehicles best suited to this vision and placed their orders accordingly with the respective OEM's. We have learnt, however, that the State Bank of Pakistan is constantly declining to open any of their Letters of Credits through their commercial banks,” read the letter.
The ambassador said the move cast a shadow over the good and friendly relation between the two countries. “Germany is not only the most significant and largest trading partner of Pakistan in the entire Ell (by volume and value), Germany is also one of the leading countries in financial assistance for people most affected by the floods last summer,” he highlighted.
