ISLAMABAD: The International Monetary Fund (IMF) has proposed sending a technical assistance mission to Pakistan to examine a trade data discrepancy amounting to between $16.5 billion and $30 billion, aiming to identify the causes and suggest corrective measures.
The proposal was made during the recent review discussions under Pakistan’s $7 billion bailout program, but local authorities have so far declined the offer, asserting that they are capable of addressing the issue independently. Officials said part of the discrepancy stems from unbooked raw materials imported under trade facilitation schemes, while others believe the gap may involve tax evasion or trade-based money laundering.
According to official records, Pakistan Single Window (PSW) reported imports worth $321 billion from July 2020 to June 2025, whereas the State Bank of Pakistan (SBP) recorded only $291 billion, creating a $30 billion gap. Additionally, Pakistan Revenue Automation Limited (PRAL) listed $304.5 billion, about $16.5 billion less than PSW’s figure, with $12.8 billion linked to the export facilitation scheme.
PBS Chief Statistician Dr. Naeem Uz-Zafar stated that Pakistan does not require IMF assistance, emphasizing that the bureau is technically equipped to reconcile trade data. Meanwhile, the IMF has urged Pakistan to publicly disclose the discrepancies and enhance transparency in its reporting.
The SBP clarified that its trade data is based primarily on bank-reported transactions, meaning no major revision is expected in the country’s current account balance, though minor adjustments could follow.
Planning Minister Ahsan Iqbal said the government had explained the matter to the IMF, which appeared satisfied with the justification. Meanwhile, Finance Minister Muhammad Aurangzeb reaffirmed Pakistan’s commitment to reforming the Federal Board of Revenue (FBR) through improvements in people, process, and technology.
The IMF’s proposed mission, if accepted, would be separate from its financial program and would focus solely on data accuracy and governance improvements.