Government commits to strengthening Economic data after IMF alert

The International Monetary Fund (IMF) has asked Pakistan to thoroughly review its import data after discovering discrepancies worth $30–35 billion in the country’s trade figures over the last seven years. The IMF highlighted that Pakistan needs to improve the accuracy and reliability of its economic data.

In its recent staff report, released after approving a $1 billion loan tranche under the Extended Fund Facility, the IMF said inconsistencies in import data reported by the Pakistan Bureau of Statistics have raised concerns. The State Bank of Pakistan does not expect the discrepancies to affect its balance of payments data significantly.

The IMF now requires Pakistan to assess the quality of its import data, review how it collects and compiles information, and prepare revised statistics. A technical committee must approve these updated figures, and the authorities must publicly release them with detailed explanations.”

The IMF emphasized that reliable economic data is crucial for effective policymaking and building investor confidence.

Government Takes Steps to Improve Economic Data:

The government has assured the IMF that it is taking steps to enhance the timeliness, coverage, and quality of economic statistics. Recent initiatives include publishing 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 planning to launch a new Producer Price Index and will start collecting data for key surveys in FY26, including manufacturing censuses and the family budget survey.

Strengthening Fiscal Reporting:

As part of the Government Finance Statistics plan, Pakistan has set up a central unit to collect and classify fiscal data. This data will be integrated into the SAP system, which will help report finances according to international standards once system upgrades are completed.