Particle.news
Download on the App Store
3 ARTICLES
·
3h ago

IMF Presses Pakistan to Reveal and Fix $11 Billion Import-Data Gap

The fund seeks a public correction to shore up confidence in Pakistan’s external statistics.

IMF presses Islamabad to explain $11 billion gap in import data
IMF urges Islamabad to address roughly $11 billion worth of discrepancies in trade data

Overview

  • Pakistani officials briefed the IMF after discrepancies between PRAL and PSW totals for FY2023-24, about $5.1 billion, widened to roughly $5.7 billion in FY2024-25.
  • A joint review found PSW records 15 goods declaration types versus PRAL’s seven, while a PBS retrieval query left unchanged since 2017 omitted key import entries.
  • The gaps were first flagged through mismatches with Chinese exporter data, with the largest shortfalls in textiles, nearly $3 billion, and metals, about $1 billion, in FY2023-24.
  • The IMF urged Pakistan to revise past trade figures, share the updates with domestic audiences and the fund, and adopt clearer communication on methodology changes.
  • PBS has hesitated to publish revisions due to concerns over effects on net exports and growth estimates, while the government plans to shutter PRAL after a failed IT upgrade.