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The International Monetary Fund has asked Pakistan to conduct a comprehensive review of its import data after identifying discrepancies of $30-35 billion in the country’s trade figures over the past seven years, highlighting the need to strengthen macroeconomic statistics.
In its latest staff report issued after approving a $1 billion tranche under the Extended Fund Facility, the IMF said inconsistencies in merchandise import data reported by the Pakistan Bureau of Statistics have raised concerns about the accuracy and reliability of official figures.
The Fund noted that while the discrepancies are significant, the State Bank of Pakistan’s balance of payments data is not expected to be materially affected.
The IMF has now made it a formal requirement for Pakistan to assess the quality of its import data, review data collection and aggregation methods, and prepare revised statistics along with detailed explanations for public release, subject to approval by a technical committee.
“Strengthening the credibility of macroeconomic data is essential for effective policymaking and investor confidence,” the IMF said in the report.
Govt Commits to Improving Economic Statistics
The government has assured the IMF that steps are being taken to improve the timeliness, coverage and quality of macroeconomic data. Recent measures include the publication of Pakistan’s first Agricultural Census in 15 years, along with the Labor Force Survey and the Household Integrated Economic Survey.
The Pakistan Bureau of Statistics is also preparing to launch a new Producer Price Index and will begin data collection for key surveys in FY26, including manufacturing censuses and the family budget survey.
Strengthening Fiscal Reporting Systems
In line with the Government Finance Statistics roadmap, Pakistan has established a central GFS unit to regularly collect and classify fiscal data. Integration of GFS mappings into the SAP system is underway, which will allow reporting in line with international standards once system upgrades are completed.
