ISLAMABAD: The International Monetary Fund (IMF) has raised serious concerns over an $11 billion discrepancy in Pakistan’s trade data and urged the government to publicly clarify and correct the figures to restore confidence in the country’s economic reporting.
According to government sources, Pakistan Revenue Automation Limited (PRAL) reported imports worth $5.1 billion less than the Pakistan Single Window (PSW) in fiscal year 2023–24. The gap widened further to $5.7 billion the following year. PSW’s data which includes all import entries was also higher than the State Bank of Pakistan’s (SBP) freight-on-board figures used to calculate the current account surplus.
The IMF flagged the issue after approaching the Pakistan Bureau of Statistics (PBS) ahead of its review meetings. During discussions with the Ministry of Planning and Development, the global lender emphasized the need for a clear communication policy to explain the data differences and changes in reporting methods.
Officials admitted that the trade data submitted to the International Trade Center (ITC) was incomplete but clarified that no wrongdoing was involved. They explained the problem arose during the transition from PRAL to PSW as the official data source.
While PRAL operates under the Federal Board of Revenue (FBR), PSW is an independent entity managed mostly by Customs officials. Sources said PSW’s system captures 15 types of goods declarations, compared to PRAL’s seven, making it far more detailed especially for imports under trade facilitation schemes such as raw materials and industrial goods.
The IMF has now asked Pakistan to revise and update past trade data and share it openly with stakeholders and the media, stressing that lack of transparency fuels mistrust in official statistics.
The issue surfaced when authorities compared Pakistan’s import records with China’s export data, revealing massive gaps. A committee, formed by Prime Minister Shehbaz Sharif, found that PBS had been using an outdated query system since 2017, leading to years of underreported imports.
The most significant errors were detected in the textile and metal sectors, where imports worth nearly $4 billion went unrecorded. Despite IMF pressure, PBS and the Ministry of Finance remain hesitant to release the revised data publicly, fearing it could impact export and GDP growth figures.
Experts say the case highlights a broader need for data modernization and transparency to ensure Pakistan’s economic reports reflect reality not outdated systems.
