Smartphone prices likely to drop by up to Rs16,000

ISLAMABAD: The prices of various smartphones in the country are likely to be reduced by Rs 10,000 to Rs 16,000.

The Federal Board of Revenue (FBR) has decided to reduce the regulatory duty imposed on imported mobile phones by 20 percent, as a result of which the prices of smartphones of various brands are likely to be reduced by up to Rs 16,000.

Circles associated with the mobile phone market say that the reduction in regulatory duty will reduce the cost of imported phones, which will ultimately have an impact on market prices.

It may be recalled that a day ago, Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial had assured the National Assembly Standing Committee on Finance of a reduction in import duty imposed on mobile phones.

The FBR Chairman said that the reduction in regulatory duty on mobile phones should be limited to entry-level mobile phones worth $31 to $200 so that low-income and first-time smartphone buyers can benefit from it.

He clarified that a large-scale reduction in duty on expensive or premium imported mobile phones would benefit the elite class of society more, while it could also cause heavy losses to the national exchequer.