The IMF pinpointed several factors hindering Pakistan’s export growth, including payment restrictions, tariffs, non-tariff import barriers, and exchange rate issues.
ISLAMABAD: (UrduPoint/Pakistan Point News-July 25th, 2024) The International Monetary Fund (IMF) identified Pakistan’s significant struggles in increasing exports compared to other regional countries.
In its report, the IMF pinpointed several factors hindering Pakistan’s export growth, including payment restrictions, tariffs, non-tariff import barriers, and exchange rate issues. The report suggested that Pakistan needs to align its export and import practices with the competitive dynamics of the global market.
The IMF recommended that Pakistan enhance local industrial production through value addition and the adoption of modern technology to improve export performance.
Compared to nations such as Bangladesh, India, Vietnam, and Thailand, Pakistan’s export levels remain substantially lower. The IMF emphasized the need for Pakistan to diversify its exports beyond textiles and agricultural products.
The report concluded that Pakistan’s export performance in the global market lags behind other countries in the region.
Besides it, sources from the Ministry of Commerce indicated that the IMF has requested an economic plan from Pakistan’s economic team to boost exports.
